Norton Rose Fulbright advises on massive monetisation deal to aid cancer treatment and research

Global law firm Norton Rose Fulbright has acted as the Australian legal advisers to the Walter and Eliza Hall Institute of Medical Research on the partial monetisation of a royalty due for sales of venetoclax, a new anti-cancer drug.

This significant US$325 million deal positions the Institute as a globally recognised innovator in medical research and comes after three decades of ground-breaking scientific discoveries made at the Institute.

Federal Minister for Health the Hon. Greg Hunt MP announced the deal on July 27 alongside Victorian Minister for Health the Hon. Jill Hennessy MP, Institute director Professor Doug Hilton AO and Institute board president Mr Chris Thomas.

Norton Rose Fulbright has had a connection with the project since 2006, and its most recent role involved assisting the Institute with the Australian-specific aspects of the deal, including advising on any Foreign Investment Review Board issues and governance arrangements.

The firm advised the Institute throughout the monetisation process with respect to aspects of the transaction documents, due diligence requirements and other business obligations. It also assisted the Institute on the assessment and consideration of the bids received.

Norton Rose Fulbright partner Bernard O’Shea led the deal and commented:

'This transaction is a landmark deal for Australia and may be transformational for others in terms of commercialisation. It has been tremendously rewarding to work with the Walter and Eliza Hall Institute for more than a decade and we are proud to have played a role in helping the Institute further this important work in finding new treatments for cancer.'

Bernard O’Shea, who is co-head of our Australian life sciences and healthcare industry team, was primarily assisted by Melbourne-based associate Rohan Sridhar.

For further information please contact:

Alex Boxsell, Senior Brand & External Communications Manager, Norton Rose Fulbright in Australia
Tel: +61 (0)2 9330 8165   Mob: +61 (0)414 985 556
alex.boxsell@nortonrosefulbright.com

Notes for editors:

Norton Rose Fulbright 

Norton Rose Fulbright is a global law firm. We provide the world’s preeminent corporations and financial institutions with a full business law service. We have more than 4000 lawyers and other legal staff based in more than 50 cities across Europe, the United States, Canada, Latin America, Asia, Australia, Africa, the Middle East and Central Asia.

Recognized for our industry focus, we are strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare.  Through our global risk advisory group, we leverage our industry experience with our knowledge of legal, regulatory, compliance and governance issues to provide our clients with practical solutions to the legal and regulatory risks facing their businesses.

Wherever we are, we operate in accordance with our global business principles of quality, unity and integrity. We aim to provide the highest possible standard of legal service in each of our offices and to maintain that level of quality at every point of contact.

Norton Rose Fulbright Verein, a Swiss verein, helps coordinate the activities of Norton Rose Fulbright members but does not itself provide legal services to clients. Norton Rose Fulbright has offices in more than 50 cities worldwide, including London, Houston, New York, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg. For more information, see nortonrosefulbright.com/legal-notices.

For more information about Norton Rose Fulbright, see nortonrosefulbright.com/legal-notices.