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Transaction Reports 3R Land
3R Land and Property Secures £20m Refinancing
3R Land and Property, a Durham (UK) property firm, has secured a £20m refinancing deal with leading Sweedish bank, Handelsbanken.
With an already extensive student accommodation portfolio in the historic city, as well as an collection of commercial property in Durham, Newcastle and Gateshead, 3R Land and Property looks set to seek- out significant development opportunities across the region with the significant Handelsbanken
financning opening up avenues in housing and commercial projects.
Founded in 1871, Handelsbanken is one of
Sweden’s leading banks with over 800 branches in 24 countries, and more than 11,500 employees. Handelsbanken commenced operations in Great Britain in 1982 and today is a full-service bank with a decentralised way of working, a strong local presence due to a nationwide network of around 175 branches and a long-term approach to customer relations.
3R Land and Property £20m refinancing from Handelsbanken
Funder: Legal advisors to 3R Land and Property:
Commercial advice to 3R Land and Property:
Adaptimmune Limited
Adaptimmune enters strategic collaboration with GlaxoSmithKline
Adaptimmune Limited, a leading biotechnology company developing TCR engineered T-cells to treat cancer, has announced that it has entered into a strategic collaboration and licensing agreement with GlaxoSmithKline (GSK) for the development and commercialisation of its lead clinical cancer programme.
Using its unique T-cell receptor (TCR) engineering technology, Adaptimmune has created TCRs which are deployed to target the cancer testis antigen, NY-ESO-1, and other targets. The company’s trials in the NY-ESO-1 programme in multiple myeloma, melanoma, sarcoma and ovarian cancer in the US are generating encouraging results, with European trials set to commence shortly, and it has a pipeline of follow-on programmes.
Under the terms of the agreement, Adaptimmune will co-develop its NY-ESO-1 clinical programme and associated manufacturing optimisation work together with GSK. GSK will have an option on the NY-ESO-1 programme through clinical proof of concept, anticipated during 2016, and, on exercise, will assume full responsibility for the programme. The companies will also co-develop other TCR target programmes and collaborate on further optimization of engineered TCR products.
According to the agreed development plan, the deal could yield payments in excess of $350 million to Adaptimmune over the next seven years, with significant additional development and commercialisation payments becoming due in subsequent years if GSK exercises all its options and milestones continue to be met.
Adaptimmune Limited
in strategic collaboration and licensing agreement with GlaxoSmithKline
Legal advisor to Adaptimmune Limited:
For more information, please contact Kerry Sharp, Partner
E: kerry.sharp@penningtons.co.uk T: +44 (0)1865 722106 www.penningtons.co.uk