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HopgoodGanim assists in foundation fund for COVID-19 vaccine research
HopgoodGanim has advised Royal Brisbane and Women’s Hospital Foundation on a pro bono basis in a matter to fund COVID-19 vaccine research.
Tony Zhang
Source: metronorth.health.qld.gov.au/hospitals-services
Firms: HopgoodGanim (Royal Brisbane and Women’s Hospital Foundation)
Value: Undisclosed.
Area: Property, tax, pro bono.
Key players: The transaction was led by property partner Tracey Rundle and tax partner Michael Patane. HopgoodGanim’s pro bono practice is led by corporate partner, Nicole Radice.
Deal significance: As reported last week across various media outlets, Queensland couple, Keith and Glenda Drake have agreed to donate the proceeds of their multimillion-dollar Sunshine Coast penthouse to the RBWHF Coronavirus Action Fund to support vital research into the development of a COVID-19 vaccine.
The money raised will go towards the expansion of national trials to test the effectiveness of two drugs in treating COVID-19, and to supporting other virus-related medical research.
RBWH Foundation CEO Simone Garske said the organisation was incredibly grateful for the Drakes’ generous sacrifice.
HopgoodGanim’s property and taxation teams worked with the RBWHF to advise on the structuring of the generous donation by the Drake family and prepared the necessary documentation to record the donation of the sale proceeds.
All of HopgoodGanim’s work was conducted on a pro bono basis to support the foundation as they carry out such vital research for the benefit of the wider community.
Previously, Australian mining magnate Gina Rinehart also contributed funding for the Royal Brisbane and Women’s Hospital Foundation to spearhead a world-first coronavirus trial.
The trial, dubbed ALLIANCE COVID-19, will be the first in the world to test a multiple combination of the antimalarial drug hydroxychloroquine, zinc, the antibiotic azithromycin and high-dose intravenous vitamin C.
RBWH Foundation was first established in 1985 as the charity arm of Royal Brisbane and Women’s Hospital (RBWH), Queensland’s largest hospital.
