Summa Equity’s Acquisition of Axion BioSystems

Jones Day advised Axion Biosystems, Inc., while White & Case advised Summa Equity on the deal.

Summa Equity Fund II (“Summa”) has acquired a majority stake in Axion BioSystems, a leading provider of MEA and impedance technology for single-cell analysis. Axion BioSystems provides an integrated technology platform for cell activity monitoring, based on its unique Bioelectronic Assay technology. The instruments are used by academia and biopharma customers, the Assays allow for non-invasive, real time study of cells.

Founded in 2008 in Atlanta, Georgia, by Tom O’Brien and Jim Ross Ph.D., Axion BioSystems originally developed its technology from a graduate research project at Georgia Tech. Now operating across North America, EMEA and APAC, the company has placed more than 500 systems to date and has grown to more than 60 full-time employees.

Understanding cell behaviour is central to some of the most important segments of pharmaceuticals, including the development of cell and gene therapeutics and understanding drug safety. Cell and gene therapy (CGT) are the fastest growing segments within the pharmaceuticals sector, with the promise of treating, preventing or potentially curing a whole host of acquired and genetic diseases, including cancer. Axion BioSystems is well-placed to capitalize on this demand and help to accelerate the development of CGT, with market-leading technology in a large and rapidly growing market.

Summa Equity invests in companies that are solving global challenges and creating positive Environmental, Social, and Governance (ESG) outcomes for society.

Axion BioSystems is a leading life science tools company focused on developing and commercializing label-free, bioelectronic assays used to study the function of live cells in vitro, to enable drug discovery, and disease modeling.

The Jones Day team was led by William J. Zawrotny (Picture).

The White & Case team that advised on the transaction was co-led by partners Jonas Lagerroos (Stockholm) and Frank Lupinacci (New York) and included partners Henrik Patel, Arlene Hahn, David Dreier, Justin Wagstaff (all New York), Charles Larsen (Boston), Farhad Jalinous, Rebecca Farrington, Karalyn Mildorf (all Washington, DC) and Oscar Liljeson (Stockholm), counsel Paul Pittman (Washington, DC), and associates Mariel Martínez Zárate, Jennifer Lee, Peter Shelburne, Ilan Har-El, Yehuda Rubel (all New York), Tyrone Crawford (Washington, DC), Elena Baca (Chicago) and patent attorney Ashley Brzezinski (Boston).

Involved fees earner: William Zawrotny – Jones Day; Elena Baca – White & Case; Ashley Brzezinski – White & Case; David Dreier – White & Case; Rebecca Farrington – White & Case; Arlene Arin Hahn – White & Case; Ilan Har-El – White & Case; Farhad Jalinous – White & Case; Jonas Lagerroos – White & Case; Charles Larsen – White & Case; Oscar Liljeson – White & Case; Frank Lupinacci – White & Case; Mariel Martínez Zárate – White & Case; Karalyn Mildorf – White & Case; Henrik Patel – White & Case; Paul Pittman – White & Case; Yehuda Rubel – White & Case; Peter Shelburne – White & Case; Justin Wagstaff – White & Case;

Law Firms: Jones Day; White & Case;

Clients: Axion Biosystems; Summa Equity Fund II;

Author: Martina Bellini