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CMS advises Wellcome Trust on exciting partnership with GSK

Date: 13/04/2010

CMS Cameron McKenna LLP has advised the Wellcome Trust on its exciting new partnership with GlaxoSmithKline (GSK), to stimulate innovation through the creation of a new world-class open access bio-science park.

The firm advised the Wellcome Trust on establishing a joint venture company with GSK to build and operate a new purpose-built biomedical science open innovation campus, to be located adjacent to GSK's facility in Stevenage. The £37 million bio-science park is the first of its kind in the UK and is backed and part-funded by the Department of Business Innovation & Skills, East of England Development Agency and The Technology Strategy Board.

The project will seek to provide a crucial national asset for the life science sector and will enhance the potential for growth of UK businesses in that sector as well as to create the opportunity to develop new healthcare products. It is hoped that this bioscience park will play a key role in re-energising the UK biotech sector through accelerating the growth and success of spin-out and start-up enterprises and ultimately compete with those in Boston, California and North Carolina in the United States. The campus could house 25 companies, creating up to 1,500 jobs, while there are plans to increase capacity fivefold over the next 10 years.

Niall McAlister, Corporate Partner, who led the deal comments, “We are pleased to be able to advise on this significant move for the national biotech sector and to support our long-standing client, the Wellcome Trust. The new park is set to be a pivotal aid to the development of new medicinal and healthcare products.”

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Nicola Stokes
+44 (0)207 367 3495
nicola.stokes@cms-cmck.com

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