5 March 2005 – LAWFUEL – The Law News Network – Allen & Overy and DLA Piper Rudnick Gray Cary (“DLA Piper”) jointly advised Inverness Medical Innovations (“IMI”) and its new Scottish subsidiary, Stirling Medical Innovations, on its research and development programme to develop new technologies for use in the diagnosis and management of cardiovascular diseases under research and development, and IP exploitation agreements with ITI Life Sciences.
IMI is a leading global developer, manufacturer and marketer of rapid diagnostic test products for both home use and professional markets. The US-based company has a track record of developing innovative products for home testing and this long term project will also include commercial applications. The project is expected to create around 500 new jobs in Scotland.
The Allen & Overy team was led by partner Colleen Keck, assisted by senior associate, Brian Sher. The DLA Piper team was led by partner John McKinlay and senior associate Ian McCarlie.
Commenting on the deal, Corporate IP partner Colleen Keck said:
“This is an exciting new project for IMI and is significant not only for our client but also for Scotland as it represents one the largest R&D commitments made by ITI Life Sciences to date. It was also a pleasure to work with DLA Piper again.”
John McKinlay, Technology Media & Communications partner at DLA Piper said:
“This was a true collaborative effort. Individuals from both firms, and the clients, worked closely together as one team, helping to secure a successful outcome for IMI and Scotland’s burgeoning life science sector.”