Deerfield Management and Stanford University Create the Porter Alliance for Innovative Medicines
New York – Paul Hastings, a leading global finance firm, announced today that the firm represented Deerfield Management on its partnership with Stanford University for the creation of the Porter Alliance for Innovative Medicines to accelerate translational research into clinical therapeutics.
The newly launched Porter Alliance for Innovative Medicines is a private company wholly owned by affiliates of Deerfield Management. Deerfield will commit up to $130 million and additional scientific and operational support to this new collaboration to advance research coming out of Stanford faculty laboratories with a focus on drug prototypes emerging from Stanford’s Innovative Medicines Accelerator.
The Paul Hastings team was led by partner Samuel Waxman and associate Eric Van Wart.
Paul Hastings has represented Deerfield in the formation of sixteen other academic research partnerships involving 18 academic institutions, including Boston Children’s Hospital, University of Michigan, Yeda Research and Development Co. Ltd., the commercial arm of the Weizmann Institute of Science; Duke University; Columbia University; Northwestern; Harvard; Vanderbilt; Johns Hopkins; Dana Farber; the Broad Institute; University of North Carolina-Chapel Hill; University of California-San Diego; and the University of Illinois at Chicago.
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