On September 19, 2022, Ventyx Biosciences, Inc., a clinical-stage biopharmaceutical company focused on advancing novel oral therapies that address a range of inflammatory diseases with significant unmet medical need, announced that it has entered into a stock purchase agreement for the sale of 5,350,000 shares of its common stock at an offering price of $33.00 per share in a private placement to certain qualified institutional buyers and institutional accredited investors. The gross proceeds of the private placement are expected to be approximately $176.6 million, before deducting placement agent fees and other expenses. Wilson Sonsini Goodrich & Rosati advised Ventyx on the transaction.

The private placement, which closed on September 20, 2022, was led by Redmile Group, with participation by Boxer Capital, Braidwell LP, EcoR1 Capital, Vivo Capital, Great Point Partners, LLC, Adage Capital Management, Logos Capital, Maven Investment Partners US, Driehaus Capital Management, Acuta Capital Partners, CaaS Capital Management, Woodline Partners LP, Walleye Capital, and other investors, including two large mutual funds.

Ventyx intends to use the net proceeds from the private placement, together with existing cash and cash equivalents, to fund the clinical development of VTX958, VTX002, VTX2735, and VTX3232, the preclinical development of other programs, research activities, and working capital and other general corporate purposes.

The Wilson Sonsini team that advised Ventyx on the transaction included Marty Waters, Rob Wernli, Brandon Shaw, Michael Brito-Stamm, and Mahnaz Dodge.

For more information, please see Ventyx’s news release.