Advising GlaxoSmithKline on Ground-breaking Joint Venture Investment Fund
28 Jan 2016
International law firm Simmons & Simmons has advised GlaxoSmithKline (GSK) on the establishment of an innovative joint venture investment fund.
The joint venture fund has been established through a limited liability partnership entity under the name Apollo Therapeutics LLP between GlaxoSmithKline, Johnson & Johnson Innovation and AstraZeneca, Imperial Innovations, UCL Business and Cambridge Enterprise.
The core objective of the joint venture is to fill a funding gap that will see academically funded biomedical research transform into mature and qualitative drug discovery projects. The projects, which will be based on research emerging from Imperial College of Science, Technology and Medicine, University College London and/or the University of Cambridge, may then be licensed to industry partners for further development and commercialisation.
Simmons & Simmons drew on its unparalleled licensing expertise to bring together the necessary IP, regulatory, commercial, limited liability partnership and tax skills within its team to provide streamlined support to complete this sophisticated multi-party arrangement designed to generate novel therapeutics for the benefit of patients facing unmet medical needs.
Commenting on the transaction, intellectual property partner Michael Gavey said: “Through our comprehensive understanding of the academic and commercial drivers of the arrangement and its stakeholders, we were able to assist in navigating the complex legal and practical questions posed by this transformative deal, allowing us to find a solution which addresses all parties’ objectives to create a platform for the development of new medicines.”
The Simmons & Simmons team comprised Michael Gavey (IP), Lydia Torne (IP), Patrick Boyd (LLPs) and Martin Shah (Tax). Financial services regulatory advice was provided by Adam Blair.
Notes to editors:
- We are a leading international law firm with fully integrated teams working through offices in Europe, the Middle East and Asia, and bring experienced professionals to some of the most active growth markets today. Our focus on a small number of sectors means we are able to understand and respond to our clients’ needs. Our industry sectors are: Asset Management & Investment Funds, Financial Institutions, Life Sciences and Telecoms, Media & Technology. We have a track record for innovation and delivering value to clients through new ways of working.
- Simmons & Simmons is an international legal practice carried on by Simmons & Simmons LLP and its affiliated practices. Accordingly, references to Simmons & Simmons mean Simmons & Simmons LLP and the other partnerships and other entities or practices authorised to use the name “Simmons & Simmons” or one or more of those practices as the context requires. The word “partner” refers to a member of Simmons & Simmons LLP or an employee or consultant with equivalent standing and qualifications or to an individual with equivalent status in one of Simmons & Simmons LLP’s affiliated practices. For further information on the international entities and practices, refer to simmons-simmons.com/legalresp
- Visit our website at simmons-simmons.com or our award-winning online legal service at elexica.com
- Simmons & Simmons international life sciences group comprises over 120 lawyers in Europe, the Middle East and Asia, many with scientific qualifications, and advises leading global pharmaceutical companies, medical device manufacturers as well as biotechs and healthcare establishments.
- For further information, please contact Heather McMaster, Senior Communications & PR Executive on +44 207 825 3962 or at email@example.com or Lauryn Mann, Communications & PR Executive on +44 207 825 3764 or at firstname.lastname@example.org