Corrs advises on world first medical procedure
Corrs has advised the O'Brien Institute on the commercialisation of the Neopec technology, a world first medical procedure developed to assist women with breast cancer.
Neopec is a combination of a medical device and surgical procedure, which utilise a woman’s own regenerative capacity to allow her to regrow breast tissue after a mastectomy.
Neopec Pty Ltd has been set up to undertake the commercialisation of this world-leading technology. This required cash and in-kind contributions from seven collaborating organisations involved in the development, trial, testing and marketing of Neopec.
Corrs partner David Smith and Senior Associate Frances Wheelahan drafted the consortium agreement and project agreements between Neopec Pty Ltd and seven collaborating parties. David and Frances also advised on the terms of an agreement with the Victorian Government for a grant of $2.95 million in funding for the project. Corrs partner Vanessa Smith advised on the set up of Neopec Pty Ltd.
The first human trials of the Neopec technology are due to begin before the middle of the year at St Vincent’s Hospital, Melbourne following successful results in Neopec’s animal models. This work continues as part of a collaboration between the O’Brien Institute, the Australian Tissue Engineering Centre, St Vincent’s Hospital, the University of Melbourne, Anatomics Pty Ltd and Cogentum Pty Ltd.
For further information, contact Natasha Stevenson on +61 7 3228 9307 or Kate Piper on +61 2 9210 6854.