On May 7, 2024, Zenas BioPharma, a clinical-stage global biopharmaceutical company committed to becoming a leader in the development and commercialization of inflammation and immunology-directed therapies, announced an upsized $200 million Series C preferred stock financing led by SR One, along with NEA, Norwest Venture Partners, and Delos Capital with significant participation from Enavate Sciences and Longitude Capital. Also participating in the financing are new investors Federated Hermes Kaufmann Funds and Arrowmark Partners, along with existing investors, Fairmount, Wellington Management, Rock Springs Capital, Pivotal bioVenture Partners, Vivo Capital, Quan Venture Fund, and Superstring Capital. Wilson Sonsini Goodrich & Rosati advised SR One, Norwest Venture Partners, and Delos Capital on the transaction.

Proceeds from the financing will be used to support ongoing mid- to late-stage clinical development programs for Zenas BioPharma's lead product candidate, obexelimab. This bifunctional monoclonal antibody is designed to bind to both CD19 and FcγRIIb, aiming to suppress the activity of B cells, plasmablasts, and plasma cells that express CD19.

The Wilson Sonsini team that advised SR One, Norwest Venture Partners, and Delos Capital on the transaction includes:

Corporate
Dan Koeppen
Kassandra Castillo
Karl Kobylecki

Patents and Innovations
Mike Hostetler
Feng Tian
Minerva Wong

Technology Transactions
Sarah (Siedlak) Walker

For more information, please see Zenas BioPharma's news release. Additional coverage can be found on Fierce Biotech.