Ropes & Gray Advises Six Major Global Pharmaceutical Companies in Investment in New Dementia Research Fund
Firm also acted for U.K.’s leading Alzheimer’s research charity
Ropes & Gray represented six world-leading pharmaceutical companies and Alzheimer’s Research UK in their investment in the Dementia Discovery Fund (DDF), a U.K. Government-sponsored fund established to support the discovery and development of novel dementia treatments. This public-private collaboration is the first of its kind to address one of the most important global medical needs.
“This was a unique opportunity to represent six leading pharmaceutical companies and Alzheimer’s Research in their pioneering collaboration with the U.K. Government to fund new treatments for dementia,” said Matthew Judd, the Ropes & Gray private investment funds partner who led the deal. “The worlds of science, government, big pharma and venture capital have come together through innovative structuring, and the drive from all sides to achieve this meant that we completed a highly complex matter in a very short space of time.”
Launched Oct. 21, the DDF is a new global investment fund established to deliver new drug approaches for dementia by 2025 to diagnose and provide early intervention to modify the course and symptoms of the disease, and thereby lay the foundations for effective therapies. SV Life Sciences, a leading international life sciences venture capital firm, has been appointed as fund manager for the DDF.
A world-class scientific advisory board with representatives from the DDF’s strategic investors and leading international academics is being set up to share expertise, expand the DDF’s collaborative networks and advise the investment team.
In addition to Mr. Judd (London), the cross-border Ropes & Gray team included tax partner Jay Milkes (New York); tax counsel Andrew Howard (London) and private investment funds counsel Mark Sugino (New York).
For more information, see the DDF launch press release here.