International law firm Bird & Bird, has been advising UK based PolyTherics on a novel licensing deal with one of India’s leading biotechnology companies, Shantha Biotechnics. The deal, which will allow the two companies to jointly develop new medicines, will lead to new uses of PEGylation technology.
The agreement between PolyTherics, a spin-out company from Imperial College London and Bangalore based, Shantha Biotechnics, will allow for the creation of new forms of PEGylation technology – which improves the half life of drugs. One of the first projects the companies have agreed to look at, relates to developing drugs in the treatment of Hepatitis C.
Partner John Wilkinson in the firm's UK office, worked on this deal with Shirley McCulloch assistant solicitor.
Commenting, Alan Sanders, Chairman of the PolyTherics board said:
“Bird & Bird’s knowledge of the life sciences sector and their creative solutions to the problems we encountered helped us get this agreement signed within a tight deadline. There are few deals of this nature especially involving UK and Indian companies, so it was particularly important for us that our advisors knew the industry inside out. Bird & Bird delivered very well on that front”.
Commenting John Wilkinson added:
“We have been working with PolyTherics since it was created and understand their business completely. This deal is representative of an interesting development for the life sciences industry where more companies are looking to work with companies in India, China and other parts of South East Asia. We have worked on a number of Indian and Chinese licensing matters over the last year.”
For more information on this please contact John Wilkinson on +44 20 7415 6000. For more information on Bird & Bird please contact Larry Cattle on + 44 (0) 20 7415 6156.