International legal practice Osborne Clarke has advised South Korean biotech company, Cancer Rop Co. (formerly known as MG Med Inc.), on a $10M investment into Oxford Vacmedix UK Limited, a spin-out biopharmaceutical company from Oxford University.
Cancer Rop will gain an approximate 49 per cent stake in the company and become a major stakeholder. Oxford University along with several other smaller investors will continue to hold shareholder status. The funding will help Oxford Vacmedix in the development of its two lead cancer vaccines to target cervical cancer and other solid tumors. It will also allow them to begin their first clinical trials.
Founded in 2012, Oxford Vacmedix develops therapeutic and diagnostic agents for cancer therapy and monitoring based on its founder Dr Shisong Jiang’s invention of Recombinant Overlapping Peptides (ROP). This technology is a new method for anticancer immunotherapy, a cancer treatment that activates the body’s immune system to fight cancer cells.
The treatment is known to be an easy, effective and more economical way to inject into the body. It is the fastest growing cancer therapy, less toxic than chemotherapy and is also suitable for use in combination with other therapies. Oxford Vacmedix believe that their products are designed faster than traditional anticancer vaccines and are easier and cheaper to produce in large volumes.
Currently, Oxford Vacmedix patent technology is registered in the USA, Europe, Japan and China. Cancer Rop will also register Korean patents, and will work with Myongji Hospital in Goyang, Korea to provide clinical support in the UK and to establish a base for the Asian market. Oxford Vacmedix aims to combine Cancer Rops’ patented technology with other therapies such as checkpoint inhibitors
The Osborne Clarke life science and healthcare sector team that advised on the transaction was led by Partner and Head of the life science and healthcare sector, Dr Janita Good, who was assisted by Associate Seamus McKimm.
Osborne Clarke’s life science and healthcare sector team has a strong track record of providing highly sophisticated advice to biotech clients on cutting-edge issues, across multiple service lines. They work with the biggest pharma and medical devices companies in the market and earlier this year, advised generic pharmaceutical company Actavis UK Limited and Actavis Ireland Limited on its £603m divestment by Teva Pharmaceutical Industries Ltd (“Teva”) to Intas Pharmaceuticals Ltd (“Intas”) pursuant to commitments given to the EU.
