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7.23.24
Wilson Sonsini Advises Vida Ventures on IP Matters Related to Third Arc Bio's $165 Million Series A Round
On July 23, 2024, Third Arc Bio Inc., a biotech company developing multifunctional antibodies optimized for T cell engagement across solid tumors and inflammatory & immunology (I&I) disease, announced a $165 million oversubscribed Series A financing that will advance the company through clinical studies to address significant unmet needs in oncology and autoimmunity. The company was launched in 2022 with seed financing from Omega Funds and has since advanced multiple programs that will enter the clinic starting in early 2025. The Series A investor syndicate was led by Vida Ventures and co-led by Cormorant Asset Management and Hillhouse Investment. Omega Funds continued their strong support of the company in the Series A and additional investors include Goldman Sachs Alternatives, BVF Partners LP, funds and accounts advised by T. Rowe Price Associates, Inc., Janus Henderson Investors, funds managed by abrdn Inc., Marshall Wace, Foresite Capital, Logos Capital, Freepoint Capital Group, and AbbVie Ventures.
Client Highlights
3.02.23
Wilson Sonsini Advises Chroma Medicine on $135 Million Series B Financing
On March 1, 2023, genomic medicine company Chroma Medicine announced that it had completed a $135 million Series B financing, which was led by GV (Google Ventures). The financing included additional participation from new investors ARCH Venture Partners, DCVC Bio, Mubadala Capital, Sixth Street, and all of its existing investors, including Alexandria Venture Investments, Atlas Venture, Casdin Capital, Cormorant Asset Management, Janus Henderson Investors, Newpath Partners, Omega Funds, Osage University Partners, Sofinnova Partners, T Rowe Price, and Wellington Management. Wilson Sonsini Goodrich & Rosati represented Chroma Medicine on the transaction.
Client Highlights
10.20.22
Wilson Sonsini Advises Prime Medicine on Patent Matters Related to $175 Million IPO
On October 19, 2022, Prime Medicine, Inc., a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies, announced the pricing of its upsized initial public offering of 10,294,118 shares of its common stock at a price to the public of $17.00 per share. The shares began trading on the Nasdaq Global Market on October 20 under the ticker symbol “PRME.” Wilson Sonsini Goodrich & Rosati is advising Prime Medicine on all patent matters related to the transaction.
The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Prime Medicine, are expected to be $175.0 million. In addition, the underwriters have a 30-day option to purchase up to 1,544,117 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions.
The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Prime Medicine, are expected to be $175.0 million. In addition, the underwriters have a 30-day option to purchase up to 1,544,117 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions.
Client Highlights
7.27.21
Wilson Sonsini Represents Totient in Acquisition by AbSci
On June 14, 2021, AbSci, the synthetic biology company unlocking the potential of proteins as next-generation therapeutics, announced the acquisition of Totient, a discovery company harnessing human immune responses to identify novel antibodies and their therapeutic targets. The acquisition adds antibody and target discovery technology to AbSci's platform for therapeutic protein design and biomanufacturing optimization. Wilson Sonsini Goodrich & Rosati represented Totient in the transaction.