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5.04.26
Firm Advises Candid Therapeutics on Patent Matters Related to Its $2 Billion Acquisition by UCB
On May 3, 2026, UCB, a global biopharmaceutical company, announced a definitive agreement to acquire Candid Therapeutics (Candid), a privately held clinical-stage biotechnology company redefining the treatment of autoimmune and inflammatory diseases through novel T-cell engagers. Under the terms of the agreement, UCB will pay $2 billion in upfront payments and up to $200 million in potential future milestone payments. Wilson Sonsini Goodrich & Rosati advised Candid on patent matters related to the transaction.
Client Highlights
3.02.26
Firm Advises Candid Therapeutics on Patent Matters Related to Acquisition by Rallybio
On March 2, 2026, Rallybio and Candid Therapeutics, a global clinical-stage biotechnology company advancing a leading portfolio of T-cell engager (TCE) therapeutics for autoimmune diseases, announced that they have entered into a definitive agreement pursuant to which Rallybio will acquire Candid through a merger transaction. The combined company expects to operate under the name Candid Therapeutics and trade on Nasdaq under the ticker symbol CDRX. Wilson Sonsini Goodrich & Rosati advised Candid on patent matters related to the transaction.
Client Highlights
7.30.25
Wilson Sonsini Advises ImmunityBio on Execution of $80 Million Equity Financing
On July 25, 2025, ImmunityBio, a biotechnology company developing therapies that bolster the natural immune system to defeat cancers and infectious diseases, announced it has executed financing to provide further working capital and support its ongoing business operations. The company entered into a securities purchase agreement for a registered direct offering with two institutional investors, providing for the issuance of common stock of ImmunityBio as well as warrants for the purchase of additional shares of common stock of ImmunityBio that is expected to result in gross proceeds at closing of approximately $80 million before deducting placement agent fees and other offering-related expenses, subject to customary closing conditions. If fully exercised, the warrants could result in additional gross proceeds of up to approximately $96 million. Wilson Sonsini Goodrich & Rosati advised ImmunityBio on the transaction.
The Wilson Sonsini team advising ImmunityBio includes:
Corporate
Patents and Innovations
For more information, please see ImmunityBio’s press release.
Client Highlights
1.07.25
Firm Advises Candid Therapeutics on Agreement with WuXi Biologics
On January 6, 2025, Candid Therapeutics, Inc., a clinical-stage biotechnology company focused on becoming the leader in advancing T-cell engagers for autoimmune and inflammatory diseases, announced an agreement with WuXi Biologics under which Candid will have exclusive global rights to a preclinical trispecific T-cell engager developed by WuXi Biologics’ proprietary universal multispecific antibody platform, WuXiBody™. Candid plans to complete IND enabling studies to enable first-in-human studies in the first half of 2026. Wilson Sonsini Goodrich & Rosati advised Candid on technology transactions and patent matters related to the transaction.
Under the terms of the agreement, WuXi Biologics is entitled to obtain an upfront payment and development and sales milestones totaling up to $925 million, as well as royalties.
The Wilson Sonsini team advising Candid on the transaction includes:
Technology Transactions
Norm Hovijitra
Under the terms of the agreement, WuXi Biologics is entitled to obtain an upfront payment and development and sales milestones totaling up to $925 million, as well as royalties.
The Wilson Sonsini team advising Candid on the transaction includes:
Technology Transactions
Norm Hovijitra
Client Highlights
12.06.24
Wilson Sonsini Advises Janux Therapeutics on Patent Matters Related to $350 Million Underwritten Public Offering
On December 4, 2024, Janux Therapeutics, Inc., a clinical-stage biopharmaceutical company developing a broad pipeline of novel immunotherapies by applying its proprietary technology to its Tumor Activated T Cell Engager (TRACTr) and Tumor Activated Immunomodulator (TRACIr) platforms, announced the pricing of an underwritten public offering of 5,317,460 shares of its common stock at a public offering price of $63.00 per share and pre-funded warrants to purchase 238,095 shares of common stock at a price of $62.999 per pre-funded warrant. The aggregate gross proceeds to Janux from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses and excluding the exercise of any pre-funded warrants, are expected to be approximately $350.0 million. In addition, Janux has granted the underwriters a 30-day option to purchase up to an additional 833,333 shares of its common stock. All of the securities to be sold in the offering are to be sold by Janux. The offering is expected to close on or about December 6, 2024, subject to customary closing conditions.
Client Highlights
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
2.29.24
Wilson Sonsini Advises Janux Therapeutics on IP Matters Related to $296.5 Million Underwritten Public Offering
On February 29, 2024, Janux Therapeutics (Janux), a clinical-stage biopharmaceutical company developing a broad pipeline of novel immunotherapies by applying its proprietary technology to its Tumor Activated T Cell Engager (TRACTr) and Tumor Activated Immunomodulator (TRACIr) platforms, announced the pricing of an underwritten public offering of 4,440,851 shares of its common stock at a public offering price of $46.50 per share and pre-funded warrants to purchase 1,935,483 shares of common stock at a price of $46.499 per pre-funded warrant, which represents the per share price for the common stock less the $0.001 per share exercise price for each such pre-funded warrant. The aggregate gross proceeds to Janux from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses and excluding the exercise of any pre-funded warrants, are expected to be approximately $296.5 million. In addition, Janux has granted the underwriters a 30-day option to purchase up to an additional 956,450 shares of its common stock. All of the shares to be sold in the offering are to be sold by Janux. The offering is expected to close on or about March 4, 2024, subject to customary closing conditions. Janux intends to use the net proceeds from the offering to advance clinical development of its internal product pipeline and for general corporate purposes.
Client Highlights
8.02.23
Firm Advises Foresite Capital on IP Matters Related to CG Oncology Financing
On August 2, 2023, CG Oncology, Inc., an oncolytic immunotherapy company focused on developing bladder-saving therapeutics for patients with urologic cancer, announced the close of an oversubscribed $105 million crossover financing round, co-led by new investors Foresite Capital and TCGX, with participation from Avidity Partners, BVF Partners, and Janus Henderson Investors, as well as existing investors including Acorn Bioventures, Ally Bridge Group, Decheng Capital, Longitude Capital, Malin Corporation, and RA Capital Management. Wilson Sonsini Goodrich & Rosati advised Foresite Capital on IP matters related to the transaction.
Client Highlights
6.12.23
Wilson Sonsini Advises Venrock on IP Matters Related to Upstream Bio's $200 Million Series B
On June 8, 2023, Upstream Bio, a clinical-stage biotech company advancing new therapies to treat inflammation, announced the completion of a $200 million Series B financing. The Series B round was led jointly by Enavate Sciences and Venrock Healthcare Capital Partners, with participation from other new investors Bain Capital Life Sciences and Wellington Management and Series A investors OrbiMed, Access Biotechnology, Decheng Capital, Altshuler Shaham Provident Funds Ltd., TCG X, HBM Healthcare Investments, Omega Funds, and Samsara BioCapital.