Orrick has advised OptAsia Healthcare, a Hong Kong-based healthcare technology firm, on its joint venture with Redwood City, CA-based Soleno Thera-peutics (NASDAQ:SLNO) and its subsidiary Capnia for the development and commercialization of Capnia’s innovative Sensalyze technology platform, which includes the CoSense End-Tidal Carbon Monoxide monitor that assists in the detection of excessive hemolysis in newborn infants. Under the terms of the joint venture agreement, Orrick’s client OptAsia Healthcare will acquire control over the Sensalyze technology platform and the CoSense line of business with an option to acquire Soleno Therapeutics’ remaining ownership interest in each at a later date.

The Orrick team advising on the joint venture and acquisition was led by Hong Kong-based M&A and private equity partner Mark Lehmkuhler, and included partners Blake Ilstrup, Ethan Ma and Glynna Christian, as well as associates Daniel Saposnik and Alexander Hendricks.