Life sciences venture capital group Abingworth Management has retained Richards Butler’s prospective merger partner Proskauer Rose as its main adviser on US matters.
Claire Wilkinson, Abingworth’s general counsel, turned to Proskauer Rose following the demise of Boston-based technology and venture capital powerhouse Testa Hurwitz & Thibeault.
Prior to Testa’s shock dissolution last month, the firm handled the lion’s share of Abingworth’s US work because of the group’s close relationship with former partners Robin Painter and David Tegeler, who are now at Proskauer Rose.
The relationship between Abingworth and Testa was strengthened further after Wilkinson spent a week’s secondment at the firm in 2003.
Wilkinson said she was happy to give Abingworth’s work to Proskauer Rose, as she believes relationships with individuals are more important than the firms they are at.
Painter and Tegeler were part of a team of seven partners who jumped ship to Proskauer Rose last December – a move that eventually forced Testa to dissolve.