Sandra G. Stoneman serves as a team lead for the Duane Morris Life Sciences/Biotech industry group and is co-chair of the Emerging Companies practice group. She is also a member of the firm's Partners Board. Ms. Stoneman concentrates her practice in the areas of general corporate, mergers and acquisitions, and venture capital transactions, with an industry focus within the life sciences, healthcare and digital health sectors. She also serves as outside general counsel to high-growth companies, representing them in various matters from formation through exit, including organization and structure matters, founder relationships, strategic, licensing and partnering transactions, clinical trial and other research agreements and commercial and operational arrangements. Additionally, Ms. Stoneman advises management and boards of directors on corporate governance matters
Ms. Stoneman has received numerous accolades for her work, including 2018 rankings in Chambers USA, LMG Life Sciences and IFLR1000.
Ms. Stoneman is a 1997 magna cum laude graduate of Temple University School of Law, where she was an articles editor for the Temple Law Review, and is a summa cum laude graduate of the State University of New York at Binghamton.
Areas of Practice
- Corporate Law
- Venture Capital
- Mergers and Acquisitions
- Licensing/Strategic Alliances
- Commercial Contracts
- Securities Law
- Business Law and Finance
- Represented The Staywell Company, a health empowerment company, in its acquisition of Provata Health, a digital health company.
- Represented Psyadon Pharmaceuticals, Inc. in its acquisition by Emalex Biosciences, a subsidiary of Paragon Biosciences, bringing with it rights to develop, register and market ecopipam, a new chemical entity with orphan drug designation for the treatment of pediatric Tourette Syndrome in patients under 16 years of age.
- Represented CD Diagnostics, Inc., a Delaware-based diagnostics company focused on developing immunoassays and biomarker testing to inform treatment decisions that improve patient outcomes, in its sale to Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global leader in musculoskeletal healthcare.
- Represented VenatoRx Pharmaceuticals, Inc., a biopharmaceutical company developing next-generation antibiotics, in connection with the sale of $42 million of Series B Preferred Stock to various investors, including Abingworth, Foresite Capital and lead investor Versant Ventures.
- Represented Complexa Inc., a clinical stage biopharmaceutical company focused on transforming the treatment of fibrosis and inflammation-associated orphan diseases, in connection with the sale of $62 million of Series C Preferred Stock to various investors, including lead investors New Enterprise Associates and Pfizer Venture Investments, LLC.
- Represented Bracket, a leading clinical trial technology and specialty services provider owned by Genstar, in its strategic acquisition of mProve Health, a leading provider of mobile technologies for life science companies.
- Represented an affiliate of Bracket, a leading clinical trial technology and specialty services provider, in its acquisition of mProve Health, a leading provider of mobile technologies for life science companies.
- Represented Tissue Analytics, a wound care monitoring business, in a $5 million Series A investment round led by DigiTx Partners.
- Represented Jornaya, a sales insights data company, in a $10 million investment led by Edison Partners.
- Represented Inovio Pharmaceuticals, Inc. in entering into an agreement to gain all of Bioject Medical Technologies' assets for $4.5 million in stock and $1 million in cash. Inovio plans to launch a device combining its needleless, skin-surface electroporation technology with Bioject's jet injection technology.
- Represented Unilife Corp. (NASDAQ: UNIS / ASX: UNS) in connection with its announced effort to seek strategic alternatives, culminating in a strategic collaboration with Amgen Inc. (NASDAQ: AMGN) for Unilife's wearable injectable drug delivery systems to use with Amgen's biologics and other medicines. The deal provides Unilife with investments of up to $90 million from Amgen and restructures Unilife's existing debt with OrbiMed.
- Represented Immunome, an immunotherapy company, in its $12 million Series A Preferred Stock financing.
- Represented MELA Sciences, Inc. (NASDAQ:MELA) in its purchase of the XTRAC and VTRAC dermatology business from PhotoMedex, Inc. for $42.5 million in cash and the assumption of certain business-related liabilities and the related financing with institutional investors consisting of a private placement of $42.5 million aggregate principal amount of senior secured notes and convertible debentures and warrants to purchase 3.0 million shares of common stock.
- Represented Intact Vascular, Inc., a developer of medical devices for minimally invasive peripheral vascular procedures, in its $38.9 million Series B Preferred Stock financing to accelerate the development and FDA approval of the company's endovascular dissection repair technology.
- Represented Apogee Biotechnology in the exclusive worldwide license to Redhill Biopharma of Apogee's lead compounds and related intellectual property rights.
- Represented Marinus Pharmaceuticals, Inc., a biopharmaceutical company developing neuropsychiatric therapeutics, in its $46 million initial public offering of common stock, and transitioning from a venture-financed company to a public company. Also represented Marinus in its $21 million Series C Preferred Stock financing from U.S. venture capital firm Domain Associates, LLC, Russian state-owned investment fund RusnanoMedInvest, and co-investors Canaan Partners, Sofinnova Ventures and Foundation Medical Partners.
- Served as counsel to Celator Pharmaceuticals, Inc. in transitioning from a venture-financed company to a public company and raising more than $125 million in several rounds of financing from venture capital and other accredited investors since 2005. Celator evolved from technology developed at the British Columbia Cancer Agency and maintains a subsidiary in Vancouver, British Columbia. The Series B round included a completed cross-border restructuring. After subsequent venture financings, we represented Celator in attaining status as a public company through a Form 10 filing, followed by a $39.3 million private placement led by Valence Life Sciences.
- Represented Gliknik Inc., a privately held biopharmaceutical company, in negotiating an exclusive worldwide license agreement with Pfizer Inc. for Gliknik's recombitant stradomer™ GL-2045, a drug candidate designed to replace and improve on pooled human intravenous immunoglobulin (IVIG). Gliknik received an upfront payment of $25 million and is eligible to receive development, regulatory and commercial milestone payments and tiered, double-digit royalties on net sales of any products commercialized under the license agreement.
- Represented Current Analysis, Inc., an IT and telecom market-research firm, in the sale of the company to UK-based Progressive Digital Media Group.
- Represented Ceptaris Therapeutics in its acquisition by Actelion for $250 million cash plus undisclosed milestone payments and sales earnouts.
- Represented a specialty pharmaceutical company with a focus on the development of novel topical dermatological therapies in connection with its preferred stock financings, totaling $42 million in proceeds.
- Represented biopharmaceutical company Ception Therapeutics, Inc. in several transactions, including its $77 million Series C financing and its acquisition by Cephalon, Inc. for $250 million and up to $500 million in milestone payments.
- Represented CloudBlue Technologies, an electronics disposition management firm, in its sale to Ingram Micro and its preferred stock financings preceding the sale.
- Represented Penrith Corporation, a manufacturer of integrated ultrasound imaging systems, in its financing transactions and its disposition to Siemens Healthcare.
- Represented Iroko Holdings S.A. (Luxembourg) in its acquisition of iCeutica Inc. (Australia), a nanotechnology platform company, for an undisclosed amount.
- Represented Protez Pharmaceuticals, Inc. in two rounds of Preferred Stock financing from venture capital investors and its acquisition by Novartis Pharmaceuticals Corporation, a structured acquisition with a $100 million up-front payment. Counsel to Protez Pharmaceuticals in venture capital financings and business initiatives for several years prior to its sale.
- Represent a medical device company developing adhesive products in its significant commercial contracts with distributors and strategic partners.
- Served as outside general counsel to a service provider to pharmaceutical sponsors and contract research organizations conducting clinical trials in its master services agreements and other commercial arrangements in the U.S., the EU and Asia. Also represented the client in managing its client relationships following an internal reorganization completed to enable its divestiture from the parent company to a private equity investor and operation as an independent business.
- Represented a major French company in connection with a complete reorganization of the worldwide holdings of a significant U.S. subsidiary to enable a $1 billion divestiture and a $650 million divestiture.
- Temple University School of Law, J.D., magna cum laude, 1997
- Advisory Board, Blackstone LaunchPad, Temple University
- PACT (Greater Philadelphia Alliance for Capital and Technologies)
- Board of Directors (2014-present)
- Member of MedTech Advisory Board (2015-present)
- IMPACT Capital Conference - Member, Steering Committee (2011-present) - Head, Entrepreneur Outreach Committee (2013-present)
- Alliance of Women Entrepreneurs
- Programming Committee (2014-present)
- FESPP (Friends of Eastern State Penitentiary)
- Board of Directors (2012-present)
- Professional Women's Roundtable
- Member, Advisory Board (2009-present)
- Board of Directors (2002-2009)
Honors and Awards
Listed in LMG Life Sciences Financial & Corporate Stars, 2018
Listed in Philadelphia Business Journal Best of the Bar: Top Lawyers in Philadelphia - Corporate, 2018
Rated as "Highly Regarded" for M&A by IFLR1000, 2018
Listed in Chambers USA: America's Leading Lawyers for Business, 2018
- Named one of Pennsylvania's Lawyers on the Fast Track by The Legal Intelligencer, August 2008
- Named a Super Lawyer Rising Star by the publishers of Law and Politics magazine, 2005-2007
- Graduate of Leadership, Inc.
Selected Speaking Engagements
Moderator, "Innovation Across Borders: Strategies for U.S. and Chinese Companies in the Health Sciences Industry," Duane Morris LLP and Chinese Biopharmaceutical Association (USA) (January 2019)
- Panelist, "Thinking About a Startup? When to Form a Company and How to Begin," BioStrategy Partners' Practical Knowledge Series (May 2017)
- Panelist, "Preparing for the Exit," Alliance for Women Entrepreneurs (January 2017)
- Moderator, "Big Data: What are the Opportunities in Healthcare?", Greater Philadelphia Alliance for Capital and Technologies (November 2014)
- Speaker, "Stakeholder Agreements and Choice of Entity", Temple University Blackstone Launchpad Program (October 2014)
- Panelist, Pharmaceutical Consulting Consortium International Meeting, (February 2014)
- Frequent lecturer at The Women's Business Development Center JumpStart panel programs (2010-present)
- Panelist, "Power of Persuasion" event hosted by Entrepreneurs' Forum, (May 2008)
- Speaker, "Choice of Entity," Wharton Venture Initiation Program Presentation, (February 2008)
- Panelist, "How to Become Fundable," lunch panel discussion at New Jersey Technology Council Venture Fair, (March 2006)
Co-author, "AdvaMed's Updated Code of Ethics," Duane Morris Alert, February 2019
Co-author, " Five Good Habits of University Researchers Launching Spinouts," Duane Morris Life Sciences Blog, November 5, 2018
- Co-author, "Alert: Drug and Device Developers Should be Aware of the Expanded Access Policy Requirement Under the 21st Century Cures Act," Duane Morris Blog, December 2016
- "Celebrating Five Years Stronger: A Few Words from PACT Leaders," imPACT Times, June 2015
- Co-author, "SEC Adopts 'Regulation A+' Rules," Duane Morris Alert, April 10, 2015
- "Judicial and Congressional Back-Door Methods That Limit the Effect of Roe v. Wade: There is No Choice if There is No Access," Temple Law Review (1997)