On November 7, 2022, global pharmaceutical company Zenas BioPharma announced a $118 million Series B equity financing that will be used to develop and bring to market immune-based therapies. Wilson Sonsini Goodrich & Rosati advised lead investor Enavate Sciences and new investor Longitude Capital in the financing.
Vivo Capital, Rock Springs Capital, Perceptive Advisors, Agent Capital, Pivotal bioVenture Partners and Superstring Capital joined Longitude Capital as new investors in the company. Existing investors that also participated in the financing included Fairmount, Wellington Management, Tellus BioVentures, Quan Venture Fund, and Xencor, Inc. The transaction included a new capital infusion and the conversion of convertible notes issued to certain investors in advance of the closing.
Zenas BioPharma plans to use the proceeds from the financing to support its lead product candidate Obexelimab, including a global Phase 3 registration trial in patients with IgG4-related disease (IgG4-RD). This is expected to begin in late 2022. Proceeds will also support putting other global autoimmune disease programs into clinical development in 2023.
The Wilson Sonsini team representing the investors includes:
Corporate
Dan Koeppen
Kassandra Castillo
Karl Kobylecki
Intellectual Property
Mike Hostetler
Feng Tian
Technology Transactions
Sarah Siedlak
For more information, please see Zenas BioPharma’s press release.