Ipswich-based law firm Prettys advises on Alder Hey Children’s NHS Foundation Innovation Project
- Credit: Su Anderson
East Anglian law firm Prettys has advised on the corporate structuring of an Innovation Partnership in the healthcare sector.
The corporate team at Prettys, which has offices in Ipswich and Chelmsford, worked on behalf of Acorn Partners, which has been “seeded” by investment management firm Deepbridge Capital, to help launch the Acorn Innovation Factory.
Along with Deepbridge it involves the Alder Hey Children’s NHS Foundation Trust in Liverpoool and innovation company We Are Nova, and aims to develop and commercialise ideas and initiatives which have a potential market in the wider healthcare sector.
The Prettys team prepared a range of investor and service agreements as well of a suite of legal documents to create a “special purpose vehicle” to fund the new organisation and enable it to enter into joint ventures with new innovation companies. IT and digital specialists from the firm also advised on issues around intellectual property.
Prettys partner Jon Bloor, who led the team, said: “Preparing the legal structure for the Acorn Innovation Factory has involved a combination of traditional as well as specialised IT and digital legal issues.
“The robust structure will allow the partnership to progress with their ambition of funding new and exciting technology innovations for the benefit of the healthcare sector.”
Andy Davidson, managing director at Acorn Partners, said: “I am delighted that all of Acorn Partners suppliers have delivered such professional and quality services in such a short time frame. Acorn is now in a position to fund and develop new digital products across the NHS, that will ultimately support better patient care.”
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Savvas Neophytou, head of life sciences at Deepbridge, added: “The team at Pretty’s worked efficiently to facilitate the transaction.
“At Deepbridge Capital we specialise in providing funding to businesses in the life sciences and med–tech sectors. We are delighted to be working hand-in-glove with industry experts at Alder Hey and execution partner at We Are Nova. The product of our efforts should result in better health for children and more efficient operations for those that care for them.
“Facilitating innovation is part of our DNA and this venture allows us to tackle healthcare related problems with a unique approach, reducing risk and enhancing commercial prospects. Deepbridge Capital LLP products enable investors to potentially benefit from generous tax reliefs available via the Seed Enterprise Investment Scheme.”