International law firm Dechert LLP’s cross-border transactional life sciences practice has advised British life sciences company Funxional Therapeutics Ltd (“FXT”) on the sale of its FX125L compound and somatotaxin programme to Boehringer Ingelheim, the leading German pharmaceuticals company. FX125L is intended to be used to treat a broad range of inflammatory diseases.
Boehringer Ingelheim will be responsible for all further research, development and commercialisation of FX125L. Financial details of the transaction have not been not disclosed.
FXT is a privately held, clinical stage pharmaceutical company based in Cambridge, UK. It was founded in 2005 based on intellectual property developed by Dr David Grainger and his colleagues at Cambridge University, in collaboration with Ipsen, a global specialty-driven pharmaceutical company targeting debilitating diseases in neurology, endocrinology, uro-oncology and haemophilia.
The Dechert team advising FXT was led by London-based corporate life sciences partner Graham Defries, assisted by Paris based corporate life sciences partner Emmanuelle Trombe and by associates Kate Tebbutt, Tom Mieszkowski and Amy Grammer.
