Our Commercial Services Group handled the legal issues surrounding MyGenomics incorporation as an independent company and the transfer of its assets, as well as licensing technology, drawing up a service contract and advising on a range of legal issues, including consent, terms and conditions and the Data Protection Act.
MyGenomics had its roots in Newcastle Science City Innovation Machine until it was spun out and incorporated as a standalone company at the end of October 2010.
The Muckle LLP team undertook the work to help establish MyGenomics as an independent business and to ensure the transfer of relevant assets, including intellectual property, from Science City to the start-up company. We also helped the innovative company to license its technology and advised on a range of commercial work relating to its suppliers and contractors, including drawing up a detailed supply agreement.
Peter Robinson, partner in our Commercial Services Group, said: “We’re genuinely delighted to have helped Newcastle Science City establish MyGenomics. The launch is one of eight completed by the team this year and is testament to the drive, energy and hard work of both MyGenomics and Newcastle Science City teams.
Our Commercial Group has unrivalled expertise in a broad range of specialisms and we are extremely pleased to have been able to help. Our clients range from entrepreneurial start-up businesses like MyGenomics to large organisations and plcs across all sectors, but our focus on commercial matters is always the same â€“ to become part of a client’s team, to overcome obstacles and find solutions to the issues they face. It’s in our DNA.”
Carolyn Horrocks drew on her background in stem cell biology to launch Newcastle-based MyGenomics, which identifies an individual’s genome type to give them their optimum diet and exercise routine.
After a simple cheek swab, the company analyses a customer’s DNA and looks at variations which affect nutrition and fat absorption, metabolism and muscle performance. Using licensed technology, the company gives lifestyle advice and provides nutrition and exercise programmes based on the individual’s genotype.
MyGenomics first solution is a weight management product related to eight specific genes, but the company already has plans to develop other products targeted at sports performance and optimal nutrition.
Carolyn said: “Muckle LLP handled the legal side of the set up of MyGenomics, from the basic company incorporation which every start-up business has to do, to the more specialist legal work which included the licensing of proprietary technology.
The commercial group at Muckle LLP also helped me with a whole range of other legal issues, including consent, terms and conditions and checking that we are complying with the Data Protection Act. Thanks to the Muckle team, the whole process has gone very well.”
The DNA kits, currently available through a small network of gyms and dieticians, will be launched commercially in January 2011 and will eventually be available to buy online direct from MyGenomics.
Muckle LLP is contracted by Newcastle Science City to handle all the legal issues under its Newcastle Innovation Machine project.