Cooley Advises on Series of Life Sciences IPOs

Zymeworks, Verona, UroGen and Biohaven IPOs highlight core strengths across the sector

Palo Alto – May 30, 2017 – Cooley recently advised on several life sciences company initial public offerings, including offerings for Zymeworks, Verona Pharma, UroGen Pharma and Biohaven Pharmaceutical. These transactions follow on the heels of Cooley’s involvement in two additional life sciences IPOs in April – Valeritas Holdings’ $52.5 million IPO and Tocagen’s $97.8 million IPO.

“We’re proud to have advised on these successful initial public offerings involving innovative companies seeking to tackle significant unmet medical needs and impact lives,” said Charlie Kim, co-chair of Cooley's global capital markets practice group.

Cooley advised the underwriters on Zymeworks’ $58.5 million initial public offering of 4,500,000 common shares. Citigroup, Barclays and Wells Fargo Securities acted as joint book-running managers for the offering; Canaccord Genuity acted as lead manager; and Cormark Securities acted as co-manager. The underwriters have a 30-day option to purchase up to an additional 675,000 shares. Zymeworks, which now trades on The New York Stock Exchange and the Toronto Stock Exchange as “ZYME,” is a clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics, initially focused on the treatment of cancer. The Cooley team was led by Charlie Kim, Dave Peinsipp and Drew Williamson.

Cooley also advised the underwriters on Verona’s $80.0 million initial public offering of 47,399,001 ordinary shares, including 5,768,000 American Depositary Shares. Jefferies and Stifel acted as joint book-running managers for the offering; Wedbush PacGrow and SunTrust Robinson Humphrey acted as co-managers. The underwriters have a 30-day option to purchase up to an additional 865,200 ADSs. Verona, which now trades on The NASDAQ Global Market as “VRNA,” is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapeutics for the treatment of respiratory diseases with significant unmet medical needs. The ordinary shares trade on AIM, a market of the London Stock Exchange as “VRP.” The Cooley team was led by Div Gupta, Brent Siler and Charlie Kim.

Cooley also advised UroGen on its $66.9 million initial public offering of 5,144,378 ordinary shares, including the full exercise of the underwriters’ option to purchase additional shares. UroGen, which now trades on The NASDAQ Global Market as “URGN,” is a clinical stage biopharmaceutical company developing advanced non-surgical treatments to address unmet needs in the field of urology, with a focus on uro-oncology. The Cooley team was led by Div Gupta, Daniel Goldberg and Josh Kaufman.

Cooley also advised Biohaven on its $193.5 million initial public offering of 11,385,000 common shares, including the full exercise of the underwriters’ option to purchase additional shares. Biohaven, which now trades on the New York Stock Exchange as “BHVN,” is a clinical-stage biopharmaceutical company with a portfolio of innovative, late-stage product candidates targeting neurological diseases, including rare disorders. The Cooley team was led by Darren DeStefano, Brian Leaf and Div Gupta.

“In addition to the recent IPOs, Cooley has advised on 29 successfully completed life sciences follow-on offerings thus far in 2017,” added Dave Peinsipp, co-chair of Cooley’s global capital markets group. “These transactions underscore Cooley’s commitment to and leadership in this dynamic space.”

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Related Contacts
Charlie Kim Partner, San Diego
David Peinsipp Partner, San Francisco
Drew Williamson Partner, San Francisco
Kristin VanderPas Partner, San Francisco
Denny Won Associate, San Diego
Phillip McGill Associate, San Diego
Denise Stark Paralegal Specialist, San Diego
Natasha Leskovsek Partner, Washington, DC
Phil Mitchell Partner, New York
Bill Christiansen Partner, Seattle
Aaron Nudelman Associate, Seattle
Laura McDaniels Special Counsel, Palo Alto
Susan Cooper Philpot Partner, San Francisco
Darren DeStefano Partner, Reston
Michael Tenta Partner, Palo Alto
Div Gupta Partner, New York
Brent Siler Partner, Washington, DC
Alison Haggerty Associate, New York
Mika Reiner Mayer Partner, Palo Alto
Colm Murphy Partner, London
Kimberly Bolin Patent Agent, Palo Alto
Marjorie Wagman Special Counsel, Palo Alto
Phil Mitchell Partner, New York
Kevin King Partner, Washington, DC
John McKenna Partner, Palo Alto
Div Gupta Partner, New York
Daniel I. Goldberg Partner, New York
Josh Kaufman Partner, New York
Michael Schaeppi Associate, New York
Barbara Mirza Partner, Los Angeles
Ivor Elrifi Partner, New York
Heidi A. Erlacher Partner in Charge - Boston
Bin Wang Associate, Beijing
Stephanie Gentile Partner, New York
Brian Leaf Partner, Reston
Katie Kazem Associate, Reston
William DuVal Associate, Reston
Cortney Smith Senior Paralegal, Reston
Mark Windfeld-Hansen Partner, Palo Alto
Aaron Pomeroy Partner, Colorado
Keith Ranta Special Counsel, Washington, DC
Elizabeth Lewis Partner, Reston
MaryBeth Shreiner Associate, Reston
Francis Wheeler Partner, Colorado