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July 31, 2012
LONDON, 31 July, 2012 — Covington & Burling advised Cell Medica Limited on its £17 million equity investment to launch new operations in Texas focusing on cancer immunotherapy and to continue development of its immune reconstitution cell therapies in Europe.
The financing includes new investment from Invesco Perpetual, Imperial Innovations, and The Cancer Prevention and Research Institute of Texas, the latter having been founded in 2007 to fund cancer research and prevention programs and services in Texas. In addition, The Wellcome Trust became a shareholder in Cell Medica through conversion of a loan into equity.
Cell Medica is a leading cell therapeutics company engaged in the development, manufacture, marketing and distribution of cell-based products for immune reconstitution and cancer.
The London-based Covington team was led by corporate partner James Gubbins and associate James Baillieu with assistance from Simon Williams. Karen Brooks assisted on US securities law matters with Guy Dingley providing assistance on tax matters.