Paul Hastings, a leading global law firm, announced today that the firm represented Deerfield Management on the creation of Ancora Innovation, a life science research partnership with Vanderbilt University.
Ancora is aimed at accelerating early stage therapeutics based on novel biology, targets or insights that have yet to be fully developed and have the ability to be disease-modifying or -curing.
Deerfield will commit up to $65 million to Ancora and will guide the development process, provide operational support, and make additional capital investments into any spin-offs that emerge from Ancora projects. The selection and development of projects by Ancora will be managed through a joint operations committee comprising an equal number of Vanderbilt and Deerfield representatives.
Deerfield Management Company, L.P. is an employee owned hedge fund sponsor. The firm primarily provides its services to pooled investment vehicles. It invests in public equity markets of the United States. The firm, led by James Edward Flynn and Jonathan David Isler, makes its private equity investments in large cap and growth companies. It typically invests in healthcare sector.
The Paul Hastings team was led by partner Samuel Waxman (Picture), and also included partner Andrew Short and associates Michael Vargas and Brooke Schachner.
Law Firms: Paul Hastings;
Clients: Deerfield Management Company, L.P.;