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Clifford Chance advises syndicate on finance for REVA Medical, Inc

8 May 2017

Clifford Chance advises syndicate on finance for REVA Medical, Inc

Leading international law firm Clifford Chance has advised a consortium of 7 institutional investors on their arrangement of and subscription for up to US$52.5 million in convertible notes and detached equity options in listed medical devices company REVA Medical, Inc. (ASX: RVA).

REVA develops minimally invasive medical devices that leverage proprietary technologies, including drug-eluting bioresorbable coronary scaffolds for the treatment of cardiovascular disease, the leading cause of death worldwide.

This transaction was coordinated through a cross-border, cross-practice team led by banking and finance counsel Mark Gillgren (Perth). Mark was assisted by lawyer Adrian Blacker (Sydney), and graduate lawyers Georgina Heath (Sydney) and Vidit Mehra (Perth); Australian corporate and listing advice was co-ordinated by counsel Kane Barnett (Sydney); US law aspects were led by partner Johannes Juette (Singapore) supported by senior associate Jonathan Crandall (Singapore), with US Regulatory advice also provided by partners Jonathan Zonis (New York) and Jeff Berman (New York), assisted by associate Suehyan Cho-O'Leary (New York). US Tax advice was delivered through partner Avrohom Gelber (New York) and associate Rebecca Pereira (New York).

Mark Gillgren offers, "Advances in technology have seen a wave of significant investment into the healthcare industry both in Australia and in the US. This transaction, which brings together both traditional banks and alternative institutional investors from a range of jurisdictions, demonstrates a growing trend towards bespoke funding solutions that we expect to continue in the years ahead."