Press Release

World-Leading Universities form Joint Venture with Global Pharmaceutical Companies to Further Therapeutic Innovation

January 26, 2016

London – January 26, 2016 – Cooley has advised on a ground-breaking joint venture, Apollo Therapeutics, between three global pharmaceutical companies and three world-class universities.

The Apollo Therapeutics Fund is a collaboration between AstraZeneca, GlaxoSmithKline and Johnson & Johnson and Imperial Innovations, Cambridge Enterprise and UCL Business, the Technology Transfer Offices (TTOs) responsible for commercialising the research from three leading UK universities, Imperial College London, the University of Cambridge and University College London. Cooley advised the TTOs and was involved in coordinating the transaction.

The six partners have committed £40 million in funding between them, which will be used to fund early-stage research projects created by the universities that the TTOs represent. The aim of the Apollo Therapeutics Fund is to advance academic preclinical research to a stage at which it can either be taken forward by one of the industry partners following an internal bidding process or be out-licensed.

"This collaboration is both unique and truly innovative, demonstrating industry working together with academia to optimise the chances of commercialising university research," said Nicola Maguire, London-based partner in Cooley's life sciences practice. "The venture benefits all parties by helping the universities fund their research and providing the pharmaceutical companies with early insight into the research being undertaken and a first right to negotiate a licence to commercialise."

About Cooley Life Sciences

Cooley's life sciences practice group has played an instrumental role in the growth of many of the industry's most sophisticated life sciences companies globally. Cooley's client base includes both public and private companies and spans the breadth of the life sciences industry sectors from therapeutics to drug delivery and formulation to medical technology and devices.

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