Foley Hoag, Bristows Assist PrEP Biopharm in £21 Million Series A Financing

November 04, 2015

Foley Hoag LLP collaborated with London law firm, Bristows LLP, to advise PrEP Biopharm Limited , a drug development company focused on respiratory infectious disease, in the closing of a £21 million (approximately US$32 million) Series A financing round.

The funding will enable PrEP Biopharm to complete ongoing Phase 2a development of its lead compound, PrEP-001, a nasally-administered, broad-spectrum agent that is designed to leverage the immune system to help the large number of high risk patients who currently suffer substantial morbidity and mortality from respiratory viral infections, such as colds and flus. Co-founded by an inventor of PrEP-001, PrEP Biopharm is a U.K.-based biopharmaceutical company committed to developing and marketing new products for the prevention and treatment of respiratory infections.

The Foley Hoag team assisting PrEP Biopharm included attorneys Hemmie Chang and Michael Robbat, who advised on the U.S. corporate and licensing aspects of the transaction; David Halstead on intellectual property matters; Nick Romanos and Terry Martland on the U.S. tax and benefits aspects; and Lyndsey Kruzer on U.S. employment issues. In addition to being admitted to the Massachusetts and District of Columbia bars, Ms. Chang is qualified as a practising solicitor in England and Wales.

The Bristows team assisting PrEP Biopharm included solicitors Marek Petecki and Nick Richards, who advised on U.K. corporate and investment matters; and Fiona Nicolson, Helen Rose and Dr. Sahar Shepperd, who handled license and related commercial agreements.