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11.09.26
Wilson Sonsini Advises KymaThera on IP Matters Related to $80 Million Series B
On October 6, 2026, KymaThera, a biotechnology company developing next-generation precision medicines for genetically defined diseases, announced the closing of an $80 million Series B financing led by Alta Partners, with participation from Venrock, Foresite Capital, J. Wood Capital, and others. Wilson Sonsini Goodrich & Rosati advised KymaThera on intellectual property matters related to the financing.
Podcasts
10.30.26
NextGen VC Podcast: The Scientist Who Said Yes to Everything—and Ended Up in VC
Nandita Shangari didn’t plan to end up in venture capital. She was a toxicologist at Novartis, and said yes to one unplanned opportunity after another, until she’d worked on Kymriah (the first U.S. Food and Drug Administration-approved CAR T therapy), ran the Novartis Venture Fund, and ultimately landed at RA Capital Management, where she’s now managing director.
Client Highlights
10.30.26
Wilson Sonsini Advises Bambusa Therapeutics on $168.9 Million Initial Public Offering
On October 29, 2026, Bambusa Therapeutics, a Boston-based clinical-stage company developing next-generation, long-acting precision bispecific antibodies for immunology and inflammation, announced the pricing of its upsized initial public offering of 10,555,555 shares of its common stock at a public offering price of $16.00 per share. Bambusa’s common stock began trading on the Nasdaq Global Select Market today under the ticker symbol “BBTX.” Wilson Sonsini Goodrich & Rosati advised Bambusa on the transaction.
Alerts
10.28.26
New COINS of the Realm: Treasury’s Implementation of COINS Act Reaches Biotech, AI, and More
On Thursday, October 22, 2026, the U.S. Department of the Treasury (Treasury) issued a notice of proposed rulemaking (the Proposed Rule) to replace and expand the current Outbound Investment Security Program (the OISP). The Proposed Rule would implement Subtitle C of the Comprehensive Outbound Investment National Security Act of 2025 (the COINS Act) enacted last December, which we previously discussed here. The Proposed Rule would establish new regulations (to be codified at 31 C.F.R. Part 851) that prohibit U.S. persons from making certain investments, and require them to notify Treasury of others, when the target is a company or other person tied to the People’s Republic of China (PRC, including Hong Kong and Macau), Cuba, Iran, North Korea, Russia, or (in specified circumstances) Venezuela (each such company or other person being a “covered foreign person”) that is engaged in specified technologies. Comments on the Proposed Rule are due December 7, 2026.
Client Highlights
10.28.26
Wilson Sonsini Advises Orbus Therapeutics on IP Matters Related to Acquisition by US WorldMeds
On October 27, 2026, US WorldMeds, a specialty pharmaceutical company, and Orbus Therapeutics, a privately held pharmaceutical company developing investigational eflornithine for rare and serious brain tumors, announced a definitive merger agreement under which US WorldMeds has acquired Orbus. Wilson Sonsini Goodrich & Rosati advised Orbus on IP matters in connection with the transaction.
Client Highlights
10.23.26
Firm Advises PepStar Therapeutics on Patent Matters Related to Acquisition of Inflammation Drug Program by Gilead Sciences
On October 22, 2026, Gilead Sciences, a biopharmaceutical company pursuing breakthroughs in medicine, announced that it has entered into a definitive agreement to acquire an oral IL-23R inhibitor program, including lead asset HCXT-2001, from PepStar Therapeutics Limited, a privately held, clinical-stage biotechnology company, for $1.275 billion in upfront cash consideration, subject to customary adjustments. The transaction is expected to close later in 2026. Wilson Sonsini Goodrich & Rosati is advising PepStar on patent matters related to the transaction.
Client Highlights
10.23.26
Wilson Sonsini Advises Prana Therapies on IP Matters Related to Acquisition by Bolt Biotherapeutics
On October 23, 2026, Bolt Biotherapeutics, a clinical-stage biotechnology company, announced the acquisition of Prana Therapies, a clinical-stage biotechnology company pioneering next-generation half-life-extended multispecific antibodies designed to deliver best-in-disease therapies. Following the acquisition, Bolt Biotherapeutics will focus on advancing Prana’s pipeline of half-life-extended multispecific antibodies generated from its proprietary INSPIRE platform, led by PRA-216, a novel IL-4Rα/TSLP bispecific antibody currently in Phase 2 development in asthma, chronic obstructive pulmonary disease (COPD), and atopic dermatitis, with a Phase 2 study in eosinophilic esophagitis (EoE) planned. Wilson Sonsini Goodrich & Rosati advised Prana Therapies on the intellectual property matters related to the transaction.
Client Highlights
10.19.26
Firm Advises Alector on $75 Million Underwritten Offering
On October 16, 2026, Alector, a biotechnology company focused on developing therapies to counteract the devastating progression of neurodegeneration, announced the pricing of an underwritten offering of common stock. Alector is selling 36,600,000 shares of common stock at an offering price of $2.05 per share, which represents a premium of approximately 7.3 percent over the closing price on October 15, 2026. The gross proceeds to Alector from this offering are expected to be $75,030,000 before deducting the underwriting discounts and commissions and other estimated offering expenses. The financing includes participation from new and existing investors, including TCGX, BVF Partners, ADAR1 Capital Management, and Deep Track Capital, among others. Wilson Sonsini Goodrich & Rosati advised Alector on the transaction.
Client Advisories
10.19.26
Most-Favored-Nation Drug Pricing: Implications for Cross-Border Life Sciences Deals
On May 12, 2025, President Trump signed Executive Order 14297, “Delivering Most-Favored-Nation Prescription Drug Pricing to American Patients” (the Executive Order).1 The Executive Order describes a “purposeful scheme” in which drug manufacturers discount prices abroad to preserve market access and recoup the difference through higher prices in the U.S. It aims to align U.S. drug prices with those paid in other comparable nations.
Blog Posts
10.16.26
Information Sharing Between the SEC and the FDA on Regulated Products
On August 31, 2026, the Securities and Exchange Commission (SEC) and the U.S. Food and Drug Administration (FDA) signed a memorandum of understanding (MOU) governing the sharing of nonpublic information relating to FDA-regulated products and activities.
Client Highlights
10.16.26
Wilson Sonsini Advises Iambic Therapeutics on $150 Million Initial Public Offering
Wilson Sonsini advised Iambic Therapeutics, a clinical-stage life sciences and technology company advancing novel medicines using its AI-driven platform, in connection with the company’s $150 million initial public offering (IPO). Iambic issued 9,375,000 shares of its common stock at a public offering price of $16 per share, with a 30-day option for the underwriters to purchase up to an additional 1,406,250 shares. Iambic’s common stock began trading on the Nasdaq Global Select Market on October 15, 2026, under the ticker symbol “IAM.”
Client Highlights
10.16.26
Wilson Sonsini Advises Recursion on $200 Million Follow-On Offering
On October 16, 2026, Recursion Pharmaceuticals, a clinical-stage company using AI-enabled drug discovery and development, closed an underwritten public offering of 61,540,000 shares of its Class A common stock at a public offering price of $3.25 per share. The gross proceeds from the offering were approximately $200 million, before deducting underwriting discounts and commissions and estimated offering expenses. Wilson Sonsini Goodrich & Rosati advised Recursion on the transaction.