News | Pharmaceuticals & Life Sciences

Thursday 27th May 2004

SJ Berwin advised a syndicate of private equity investors who have supported a £20 million spin out of the needle-free injection technology business from Chiron Vaccines, the US biotechnology company that acquired it as part of its acquisition of Powderject a year ago. The syndicate was led by Schroder Ventures Life Sciences and included Abingworth Management, Advent Venture Partners, Oxford Bioscience Partners and Quester.

PowderMed Limited will use the helium-powered injector to deliver therapeutic vaccines for cancer, hepatitis and AIDS.

Perry Yam commented: "We were delighted to be involved in this transaction. This is a very exciting new technology with huge implications for the healthcare industry. Technology relating to injections without a needle is likely to make that form of drug delivery far more acceptable to a large number of needle-fearing patients."

The SJ Berwin team advising on the transaction was led by Corporate partners Joanna Hamilton and Perry Yam, assisted by Jonathan Betts and Munira Patel and Commercial partner Andrew Shindler.

• SJ Berwin is a full-service international legal practice with more than 450 lawyers across its offices in London, Brussels, Frankfurt, Berlin, Munich, Madrid and Paris.
• With a dedicated European private equity team comprising over 140 full-time corporate private equity lawyers together with support from its other departments, SJ Berwin advises clients on the full-range of private equity business, both in connection with the establishment of private equity funds and their associated incentive schemes, and on MBOs, MBIs, public-to-privates and venture capital investments.
• Synopsis of Biotechnology/Life Sciences at SJ Berwin:
  - Leading position as adviser to Life Science and Biotechnology investors.
  - Acted on the two largest venture investments in UK biotechnology companies comprising syndicates of the foremost biotech investors.
  - Pre-eminent position in the most active sector in venture capital in recent years.
  - Specialist adviser on the establishment of pan European private equity funds including the leading Life Science funds.
• SJ Berwin has just been named "Legal Adviser of the Year" at the BVCA/Real Deals Private Equity Awards 2004, and our Head of Private Equity, Jonathan Blake, was admitted to the "Hall of Fame" for his services to the private equity industry over the last 20 years.