SK Group’s $350 Million Investment in The Center for Breakthrough Medicines

Simpson Thacher represented SK Group on the deal while Troutman Pepper Hamilton Sanders advised Center for Breakthrough Medicines.

SK Inc. announced its $350 million investment in The Center for Breakthrough Medicines (“CBM”). The investment is being made through SK Pharmteco, and upon completion of the investment SK Pharmteco will become the second largest shareholder of CBM.

SK is the holding company of the SK Group, Korea’s third largest business group with major operations in the energy, semiconductors, telecommunications and life sciences businesses, and operates one of the world’s top five contract development and manufacturing organizations (“CDMO”) businesses based on revenue. SK Pharmteco is a subsidiary of SK and SK Group’s holding company for its CDMO businesses. CBM is a Philadelphia-based cell and gene therapy CDMO which provides fully integrated pre-clinical through commercial manufacturing services based on its cell and gene therapy technology and experienced management and R&D staff.

The Simpson Thacher team for the transaction includes Jin Hyuk Park (Picture), Joongwon Park, William Son, Chanik Park and Yong Bum Lee (Corporate – Hong Kong); Étienne Renaudeau, Pauline Patat and Kelly Karapetyan (Antitrust); Benjamin Rippeon and Jasmine Hay (Tax); Lori Lesser, Bobbie Burrows and Rachelle Broida (IP); Larry Moss, Alyssa Ohanian and Guanxiong Xu (ERISA).

The Troutman Pepper was led by Rachael Bushey and Chris Miller, and included Saba Ashraf, Allison Nicklin, Stephen Fox, Roe Granger, Neil Doogan, Michael Crumbock, Susan Lessack, Joseph Harrington, Dan Scolnick, and Judy O’Grady.

Involved fees earner: William Wooseong Son – Simpson Thacher & Bartlett; Rachelle Broida – Simpson Thacher & Bartlett; Yong Bum Lee – Simpson Thacher & Bartlett; Bobbie Burrows – Simpson Thacher & Bartlett; Jasmine Hay – Simpson Thacher & Bartlett; Kelly Karapetyan – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Laurence Moss – Simpson Thacher & Bartlett; Alyssa Ohanian – Simpson Thacher & Bartlett; Jin Hyuk Park – Simpson Thacher & Bartlett; Joongwon Park – Simpson Thacher & Bartlett; Chanik Park – Simpson Thacher & Bartlett; Pauline Patat – Simpson Thacher & Bartlett; Étienne Renaudeau – Simpson Thacher & Bartlett; Benjamin Rippeon – Simpson Thacher & Bartlett; Guanxiong Xu – Simpson Thacher & Bartlett; Saba Ashraf – Troutman Pepper Hamilton Sanders LLP; Rachael Bushey – Troutman Pepper Hamilton Sanders LLP; Michael Crumbock – Troutman Pepper Hamilton Sanders LLP; Neil Doogan – Troutman Pepper Hamilton Sanders LLP; Stephen Fox – Troutman Pepper Hamilton Sanders LLP; Roe Granger – Troutman Pepper Hamilton Sanders LLP; Joseph Harrington – Troutman Pepper Hamilton Sanders LLP; Susan Lessack – Troutman Pepper Hamilton Sanders LLP; Christopher Miller – Troutman Pepper Hamilton Sanders LLP; Allison Nicklin – Troutman Pepper Hamilton Sanders LLP; Judith O’Grady – Troutman Pepper Hamilton Sanders LLP; Daniel Scolnick – Troutman Pepper Hamilton Sanders LLP;

Law Firms: Simpson Thacher & Bartlett; Troutman Pepper Hamilton Sanders LLP;

Clients: Center for Breakthrough Medicines; SK Group;

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Author: Youness Semri