Julian P. Thurston

Partner
London, 44 20 7920 4050
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Julian Thurston is regarded as one of the top life sciences transactional attorneys in the UK and globally. Over 30 years ago, Mr. Thurston was one of the first UK attorneys to focus on life sciences transactions, and he has developed a strong position in the market, focusing 100% on representation of life science companies in IP licensing, strategic partnering, outsourcing and other collaboration matters. He has been ‘top ranked’ for life sciences since the leading legal directories (such as Chambers, Legal 500, and PLC) began covering the sector.

Indeed, Chambers Global 2011 ranks Mr. Thurston as one of the top five corporate/commercial life sciences lawyers globally. The directory reports, "Clients extol Julian Thurston's "extraordinarily powerful negotiation skills." This London-based lawyer is "very cool under pressure, and has a quiet intensity that's very impressive." He is also "extremely knowledgeable about this field."

When life sciences companies are contemplating high-stakes licensing deals, they turn to Mr. Thurston. Not only does he have a compelling track record of handling transforming deals his depth of knowledge of the spectrum of terms available within life sciences deals is invaluable to his clients. Since 1980, when he first began advising Celltech, one of the first biotech companies in the UK, Mr. Thurston's work in the sector has helped to shape many of the licensing and partnering agreements used today. As a negotiator, he knows which points to fight for and which to settle, and brought in at term sheet stage, he adds significant value as a commercial advisor. In recent years, Mr. Thurston has had a particular focus in partnering and joint ventures in the BRIC countries, especially China and Brazil.

Renovo Group plc
We advised Renovo on a revision to its earlier licensing deal with Shire for Juvista.  In 2007 Renovo and Shire signed a $825 million licensing agreement giving Shire the rights to sell Juvista throughout the world excluding the EU which Renovo retained. (Morrison & Foerster also advised on this agreement.) The 2010 revisions to this agreement mean that Renovo has acquired from Shire the rights to sell and license Juvista in all territories other than the USA, Mexico and Canada.  Milestone and royalty payments for the development and sales of Juvista are unchanged from the original agreement. On acceptance of a BLA filing with the FDA, Shire will pay Renovo US$25m and on approval US$50 – $150m depending on the breadth of the indication on the approved label. Milestones on escalating sales total up to $525m and Renovo receives escalating royalties on Juvista sales.  A new milestone payment to Renovo of $5m from Shire has been added to the agreement once Shire commences a clinical trial after the first EU Juvista PhIII trial reports (currently on schedule to report H1 2011).  A collaboration committee between Renovo and Shire will also be formed to oversee the development programs.

Renovo is a biopharmaceutical product company and a leader in the discovery and development of drugs to reduce scarring, improve wound healing and enhance tissue regeneration.
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