EX-5.1 3 c91769exv5w1.txt OPINION AND CONSENT OF BAKER & MCKENZIE LLP EXHIBIT 5.1 ["BAKER & MCKENZIE LOGO"] BAKER & MCKENZIE LLP One Prudential Plaza, Suite 3500 130 East Randolph Drive Chicago, Illinois 60601, USA Tel: +1 312 861 8000 Fax: +1 312 861 2899 chicago.information@bakernet.com www.bakernet.com ASIA February 4, 2005 PACIFIC Bangkok Beijing Hanoi Northfield Laboratories Inc. Ho Chi Minh City 1560 Sherman Avenue Hong Kong Suite 1000 Jakarta Evanston, IL 60201-4800 Kuala Lumpur Manila Melbourne Shanghai Singapore Sydney Re: Offering of Common Stock Taipei Tokyo Ladies and Gentlemen: EUROPE & We have acted as counsel for Northfield Laboratories Inc., a MIDDLE EAST Delaware corporation (the "Company"), in connection with the Almaty registration under the Securities Act of 1933, as amended Amsterdam (the "Securities Act"), of the offer and sale of up to Antwerp 5,175,000 shares of the Company's Common Stock, par value Bahrain $.01 per share (the "Stock"), including 675,000 shares of Baku Stock to cover over-allotments, if any, pursuant to the Barcelona Registration Statement on Form S-3 (Registration Number Berlin 333-121622) filed by the Company with the Securities and Bologna Exchange Commission (the "Commission") on December 23, 2004 Brussels (the "Registration Statement"). Budapest Cairo Dusseldorf The offering and sale of the Stock is proposed to be made Frankfurt / Main pursuant to that certain Underwriting Agreement dated as of Geneva February 4, 2005 (the "Underwriting Agreement") executed by Kyiv the Company and UBS Securities LLC, SG Cowen & Co. and London Harris Nesbitt Corp. as representatives of the underwriters Madrid named in Schedule A thereto (collectively, the Milan "Underwriters"). Unless otherwise defined herein, each Moscow capitalized term used herein that is defined in the Munich Underwriting Agreement has the meaning given such term in Paris the Underwriting Agreement. Prague Riyadh In reaching the opinion set forth herein, we have reviewed Rome copies of the Underwriting Agreement, the Registration St. Petersburg Statement, the Prospectus included in the Registration Stockholm Statement as of its effective date (the "Base Prospectus"), Vienna the Prospectus Supplement filed by the Company with the Warsaw Commission on February 4, 2005 (the "Prospectus Supplement") Zurich and such other agreements, certificates of public officials and officers of the Company, records, documents and matters NORTH & SOUTH of law that we have deemed relevant. In such review, we have AMERICA assumed the genuineness of all signatures, the authenticity Bogota of all documents submitted to us as originals, the Brasilia conformity to original documents of all documents submitted Buenos to us as photostatic or certified copies and the Aires authenticity of the originals of such copies. Calgary Caracas Chicago Dallas Guadalajara Houston Juarez Mexico City Miami Monterrey New York Palo Alto Porto Alegre Rio de Janeiro San Diego San Francisco Santiago Sao Paulo Tijuana Toronto Valencia Washington, DC Baker & McKenzie LLP is a member of Baker & McKenzie International, a Swiss Verein. ["BAKER & MCKENZIE LOGO"] Based upon and subject to the foregoing, we are of the opinion that the Stock has been duly and validly authorized and, when issued to the Underwriters in accordance with the terms of the Underwriting Agreement, will be validly issued, fully paid and nonassessable. The opinion expressed above is limited to the laws of the General Corporation Law of the State of Delaware and the federal laws of the United States of America. This opinion letter is limited to the matters stated herein and no opinion is implied or may be inferred beyond the matters expressly stated. We hereby consent to the use of our opinion as herein set forth as an exhibit to the Company's Current Report on Form 8-K dated February 4, 2005, which is incorporated by reference into the Registration Statement and to the use of our name under the caption "Legal Matters" in the Base Prospectus and the Prospectus Supplement. In giving this consent, we do not hereby admit that we come within the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission promulgated thereunder or Item 509 of Regulation S-K. Very truly yours, /s/ BAKER & MCKENZIE LLP Page 2 Northfield Laboratories Inc. February 4, 2005