Corrs Chambers Westgarth has advised medical research company O'Brien Institute on the commercialisation of its Neopec technology.
Neopec, a world first medical procedure developed to assist women with breast cancer, is the combination of a medical device and surgical procedure which allows women to regrow breast tissue, following a mastectomy, by using their own regenerative capacity.
Commercialisation of the product is being carried out by Neopec Pty Ltd, the establishment of which required cash and in-kind contributions from seven organisations involved in the product's development, trial, testing and marketing.
Corrs partner David Smith and senior associate Frances Wheelahan drafted the consortium agreement and project agreements between Neopec Pty Ltd and seven collaborating parties, and advised on the terms of an agreement with the Victorian Government for a $2.95 million grant in funding.
Corrs partner Vanessa Smith advised on the establishment of Neopec Pty Ltd.
The first human trials of the Neopec technology will shortly begin at Melbourne's St Vincent's Hospital after successful results were achieved in Neopec's animal models.
The O'Brien Institute, the Australian Tissue Engineering Centre, St Vincent's Hospital, the University of Melbourne, Anatomics Pty Ltd and Cogentum Pty Ltd continue to collaborate on the project.