The award-winning life sciences team at Penningtons Manches LLP has recently worked alongside Evotec AG’s General Counsel on the company’s research alliance with Panion Limited, a subsidiary of Convergence Pharmaceuticals Holdings Limited. Convergence is a UK company developing new, high value analgesics to treat chronic pain.
Panion Limited has been awarded a £2.4 million Technology Strategy Board Biomedical Catalyst Early Stage Round 2 grant to discover and develop compounds against a novel GPCR pain target.
Evotec AG is a drug discovery alliance and development partnership company which has established a unique position by assembling top-class scientific experts and integrating state-of-the-art technologies. It will be responsible for undertaking key drug discovery activities aimed at identifying pre-clinical candidates over the next three years. Subsequently, and upon meeting certain pre-clinical milestones, Convergence and Evotec will jointly progress the assets further into the clinic or via partnering.
The Penningtons Manches team was led by corporate partner, Patrick Baddeley, together with James Went and Dominique Sabatini.