Sam Zucker

Goodwin Procter LLP

Redwood City

Transactions

Zucker is a partner in Goodwin Procter's technology companies and life sciences group. He works on corporate transactions for life sciences, healthcare and tech companies globally, representing investors and portfolio companies. Clients include Dicerna Pharmaceuticals Inc., Nektar Therapeutics, Exicure Inc., Pliant Therapeutics Inc., BioIntervene Ind., Modio Health and others.

In normal times he helps put together deals like the agreement that closed in January for biotechnology researcher Dicerna, based in Massachusetts, to partner with Danish pharmaceutical company Novo Nordisk AS in developing therapies to treat liver-related cardio-metabolic diseases.

Such transactions proceed, though these are hardly normal times.

"We're working now with multiple clients seeking ways to attack covid-19 with antiviral therapeutics, vaccines, hand and surface disinfectants and mask and gown production. The efforts go from the highest levels of the pharmaceutical industry to basic blocking and tackling," he said.

Included are clients old and new.

"Existing clients with relevant technologies are in the mix and new clients are coming to us because we have a well-established life sciences practice."

He declined to offer detailed specifics, explaining, "Clients don't want to appear opportunistic."

Zucker devotes a lot of current work to interpreting the $2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act, passed by Congress and signed by President Trump on March 27. It contains provisions for emergency aid to small businesses.

"Many of my clients qualify," he said, noting that biotech firms with up to 750 employees and pharmaceutical companies with up to 1,250 workers are eligible. "The analysis gets more complicated because if you have an affiliated investor you may have to add those employees into the mix. Not a lot of time has elapsed," he said in early April, "so there remains a fair amount of confusion."

The CARES Act contains $349 billion in paycheck protection provisions that offer forgivable loans for small businesses that do not lay people off.

In the biotech and pharma realms, Zucker said, "it's a smart mechanism to reduce unemployment acceleration, even though in high tech most companies want to retain their valuable employees. Layoffs are a realistic fear because highly skilled people are greatly in demand."

The upshot for now is a heavy workload. "We're busier than ever," Zucker said. "Crisis creates legal uncertainty. One rewarding thing is knowing that a multi-pronged solution to the pandemic will come from this industry. These esoteric hard science firms don't necessarily make the news very often, but now vaccine development is atop everybody's wish list."

Like most in his firm, Zucker works from home now.

"I can do 100 percent by Zoom, but my clients can't," he pointed out. "Most people working in a lab can't do it at home without blowing up the kids."

-- John Roemer