Covington Advises Allergy Therapeutics on £11.5 Million Placement and License Agreement

LONDON, November 23, 2015 — Covington represented Allergy Therapeutics, the AIM-listed specialty pharmaceutical company specializing in allergy vaccines, in the placement of ordinary shares raising approximately £11.5 million. The placement was conducted through an accelerated bookbuilding process with Panmure Gordon & Co acting as financial adviser, nominated adviser, and sole bookrunner.

Covington also represented Allergy Therapeutics in connection with a license agreement in respect of virus-like particle (VLP) technology. Allergy intends to use the license in the development of Polyvac Peanut, a new injectable vaccine immunotherapy treatment for peanut allergy sufferers, through to Phase I clinical trials.

The Covington team handling the placing was led by Simon Amies and Emma Heffernan, and included Kristian Wiggert (US securities), Guy Dingley (tax) and Morag Peberdy (IP). The team handling the licence consisted of Daniel Pavin, Lucinda Osborne, David Dennis, Jane Pinho and Winsome Cheung, with assistance from Adem Koyuncu and Sabine Stute on German matters.