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5.13.26
Wilson Sonsini Advises Whitehawk Therapeutics on $87.5 Million PIPE Financing
On May 13, 2026, Whitehawk Therapeutics, a clinical-stage oncology therapeutics company applying advanced technologies to established tumor biology to efficiently deliver improved antibody drug conjugate cancer treatments, announced that it has entered into a securities purchase agreement with certain qualified institutional buyers and accredited investors for a private investment in public equity (PIPE) financing that is expected to result in gross proceeds of approximately $87.5 million, before deducting placement agent fees and other private placement expenses. The PIPE financing includes participation from existing investors including Avoro Capital, QVT, Coastlands Capital, KVP Capital, ADAR1 Capital Management, Acuta Capital Partners, StemPoint Capital LP, Invus, as well as members of the company’s executive team. Wilson Sonsini Goodrich & Rosati advised Whitehawk on the transaction.
Client Highlights
2.23.26
Firm Advises Arcellx on $7.8 Billion Acquisition by Gilead
On February 23, 2026, Gilead Sciences announced that it has entered into a definitive agreement to acquire Arcellx, a biotechnology company focused on delivering a new class of innovative immunotherapies for patients with cancer and other incurable diseases, for $115 per share in cash at closing and one contingent value right of $5 per share, which represents an implied equity value of $7.8 billion payable at closing. Wilson Sonsini Goodrich & Rosati advised Arcellx on the transaction.
Client Highlights
2.05.26
Wilson Sonsini Advises SpyGlass Pharma on $150 Million IPO
On February 5, 2026, SpyGlass Pharma, Inc., a late-stage biopharmaceutical company, announced the pricing of its initial public offering of 9,375,000 shares of its common stock at a public offering price of $16.00 per share. The aggregate gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by SpyGlass Pharma, are expected to be approximately $150 million. Wilson Sonsini Goodrich & Rosati advised SpyGlass Pharma on the transaction.
SpyGlass Pharma has granted the underwriters a 30-day option to purchase up to an additional 1,406,250 shares of common stock at the initial public offering price, less underwriting discounts and commissions. All shares of common stock are being offered by SpyGlass Pharma. SpyGlass Pharma’s common stock is expected to begin trading on the Nasdaq Global Select Market on February 6, 2026, under the ticker symbol “SGP.” The offering is expected to close on February 9, 2026, subject to the satisfaction of customary closing conditions.
The Wilson Sonsini team that advised SpyGlass Pharma includes:
SpyGlass Pharma has granted the underwriters a 30-day option to purchase up to an additional 1,406,250 shares of common stock at the initial public offering price, less underwriting discounts and commissions. All shares of common stock are being offered by SpyGlass Pharma. SpyGlass Pharma’s common stock is expected to begin trading on the Nasdaq Global Select Market on February 6, 2026, under the ticker symbol “SGP.” The offering is expected to close on February 9, 2026, subject to the satisfaction of customary closing conditions.
The Wilson Sonsini team that advised SpyGlass Pharma includes:
Client Highlights
1.08.26
Wilson Sonsini Advises Ventyx Biosciences on $1.2 Billion Acquisition by Eli Lilly
On January 7, 2026, Eli Lilly and Company announced that it has entered into a definitive agreement to acquire Ventyx Biosciences, Inc., a San Diego-based clinical-stage biopharmaceutical company focused on developing innovative oral therapies for patients with inflammatory-mediated diseases. Under the terms of the agreement, Lilly will acquire all the outstanding shares of Ventyx in an all-cash transaction, valuing at approximately $1.2 billion. Wilson Sonsini is advising Ventyx on the transaction.
Client Highlights
9.03.25
Wilson Sonsini Advises Galvanize Therapeutics on $100 Million Series C Financing
On September 3, 2025, Galvanize Therapeutics, Inc., a commercial-stage medical technology company pioneering pulsed electric field (PEF) therapies for oncology and chronic lung disease, announced that it has raised $100 million in an oversubscribed Series C financing. The round was led by Sofinnova Partners, with participation from a global syndicate of top-tier investors including Norwest Venture Partners, Elevage Medical Technologies, Ally Bridge Group, Perceptive Xontogeny Venture Fund, Janus Henderson Investors, and Longaeva. Existing investors Fidelity Management & Research Company, T. Rowe Price, Gilmartin Capital, Intuitive Surgical, and Apple Tree Partners (ATP), the company's founding investor, also participated in the round. Wilson Sonsini Goodrich & Rosati advised Galvanize on the transaction. The proceeds from the financing will be used to expand the company's commercial footprint and advance its clinical and development activities related to Aliya® PEF in solid tumors and RheOx® therapy for chronic bronchitis.
The Wilson Sonsini team that advised Galvanize on the transaction included:
The Wilson Sonsini team that advised Galvanize on the transaction included:
Client Highlights
6.25.25
Firm Advises Forte Biosciences on $75 Million Public Offering
On June 24, 2025, Forte Biosciences, Inc., a clinical-stage biopharmaceutical company focused on autoimmune and autoimmune-related diseases, announced the pricing of a public offering of shares of its common stock and pre-funded warrants at a price to the public of $12.00 per share. Wilson Sonsini Goodrich & Rosati advised Forte on the transaction. The gross proceeds from the offering are expected to be approximately $75 million before deducting underwriting discounts and commissions and other offering expenses. The offering is expected to close on or about June 26, 2025, subject to satisfaction of customary closing conditions.
Client Highlights
12.20.24
Wilson Sonsini Advises Aadi Bioscience on $100 Million Sale of FYARRO®, $100 Million PIPE Financing and License Agreement for ADC Portfolio
On December 19, 2024, Aadi Bioscience announced that it had entered into an agreement to sell its commercial drug product FYARRO® to KAKEN Pharmaceutical for $100 million, an agreement to sell and issue $100 million of equity in a PIPE financing, and an exclusive license agreement for the development and global commercialization of a three-asset portfolio of preclinical, next-wave antibody-drug conjugates (ADCs), in collaboration with WuXi Biologics, a global Contract Research, Development and Manufacturing Organization, and Hangzhou DAC, a global leader in ADC innovation.
Client Highlights
11.21.24
Wilson Sonsini Advises Forte Biosciences on Oversubscribed $53 Million Equity Financing
On November 20, 2024, biopharmaceutical company Forte Biosciences announced an oversubscribed $53 million equity financing to support the continuing clinical advancement of FB102, which is a proprietary anti-CD122 monoclonal antibody therapeutic candidate with potentially broad autoimmune and autoimmune-related indications. TD Cowen acted as the lead placement agent for the financing. Guggenheim Securities provided Capital Markets Advisory services to Forte Biosciences. Chardan, Rodman & Renshaw and Brookline Capital Markets acted as co-placement managers for the financing.