Valeritas has Completed a Section 363 Asset Sale to Zealand Pharma

Valeritas Holdings, Inc. (NASDAQ:VLRX) is a publicly traded, commercial-stage medical technology company focused on improving health and simplifying life for people with diabetes by developing and commercializing innovative technologies. Valeritas’ flagship product, V-Go® Wearable Insulin Delivery device, is a simple, affordable, all-in-one basal-bolus insulin delivery option for adult patients requiring insulin that is worn like a patch and can eliminate the need for taking multiple daily shots.

Lincoln’s multi-faceted medical technology and special situations teams worked closely with the company’s management team and its restructuring advisors at DLA Piper LLP and PricewaterhouseCoopers LLP (PwC) to craft a comprehensive, global marketing strategy which involved providing industry expertise, contacting potential acquirers worldwide both pre- and post-petition, managing the due diligence process, securing a stalking horse bidder, securing debtor-in-possession (DIP) financing and assisting with the negotiation of the purchase agreement and bidding procedures. As the exclusive investment banker to Valeritas, Lincoln executed a highly efficient process that lasted just over 50 days from the date of filing to the closing date.

DLA Piper served as legal advisor and PwC served as financial advisor to Valeritas. An affiliate of Hudson Bay Capital Management LP provided the DIP financing, thereby providing sufficient liquidity to support the Company’s ongoing operations during the bankruptcy process.

About Zealand
Based in Søborg, Denmark, Zealand is a publicly-traded (CPH: ZEAL and NASDAQ: ZEAL) biotechnology company focused on the discovery and development of innovative peptide-based medicines. More than 10 drug candidates invented by Zealand have advanced into clinical development, of which two have reached the market. Zealand’s current pipeline of internal product candidates focus on specialty gastrointestinal and metabolic diseases. The company’s portfolio also includes clinical license collaboration with Boehringer Ingelheim and pre-clinical license collaboration with Alexion Pharmaceuticals.

About Hudson Bay
Based in New York, New York, Hudson Bay is a multi-billion-dollar asset management firm. Hudson Bay targets traditional and non-traditional investment opportunities by employing multiple absolute return strategies, utilizing rigorous fundamental analysis and seeking growth opportunities that are uncorrelated to each other and to market indices.

Valeritas Zeal & Zealand Pharma 2020 Connect with a Senior Team Member
Lincoln’s deep medical technology industry experience, global capabilities and expertise in navigating the 363 sale process produced an exceptional outcome that maximized value for all stakeholders.
John Timberlake
President and CEO of Valeritas

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