Background
Frost Brown Todd client Parabricks Inc., a software developer specializing in bioinformatics sequencing and analysis, launched in 2015. The company developed a GPU-based solution that speeds up the process of analyzing whole genomes from days to under an hour. In 2019, Parabricks engaged Frost Brown Todd as counsel to assist with its acquisition by NVIDIA. The acquisition transaction officially closed on January 3, 2020.
Frost Brown Todd’s deal team was led by Ann Arbor Member-in-Charge Terrence J.L. Reeves (emerging growth), Holly Brown Powell (mergers and acquisitions), Alison Stemler (executive compensation), Douglas Gallagher (IP), and Brittany Bradshaw (emerging growth).
Outcome
By joining the NVIDIA Healthcare team, Parabricks can now leverage NVIDIA’s artificial intelligence expertise and platform to scale the Parabricks suite of products. As part of the transaction, Parabricks co-founders Mehrzad Samadi, Ankit Sethia and Scott Mahlke officially joined NVIDIA, where they will continue NVIDIA’s work to accelerate genomic sequencing from the company’s new location in Ann Arbor, Michigan.