Palo Alto – October 30, 2017 – Cooley advised HBM Healthcare Investments and certain other investors on their lead investment in Harmony Biosciences’ completed $270 million equity financing. Harmony used the proceeds of the funding to acquire exclusive US rights from French company Bioproject to develop, register and market pitolisant – a drug approved by the EU for the treatment of narcolepsy. Cooley partner Mehdi Khodadad led the team advising HBM.
“We’re excited to research, develop and see US approval for pitolisant, a potential first-in-class therapy to treat patients with narcolepsy,” said Harmony CEO Bob Repella in a news release. “In addition to working with the FDA, Harmony will be working closely with healthcare providers, advocacy organizations and other stakeholders to help address the unmet needs of the patient community.”
Headquartered in Plymouth Meeting, Pennsylvania, Harmony is dedicated to developing innovative therapies to help patients with unmet medical needs. Harmony focuses on providing novel treatment options to patients with orphan and rare conditions, with an emphasis on central nervous system disorders.
HBM Healthcare Investments actively invests in the human medicine, biotechnology, medical technology and diagnostics sectors and related areas with a track-record of more than 100 biopharma and healthcare investments that have resulted in significant value creation via sale transactions and IPOs since inception.
Cooley serves as primary counsel to HBM and its fund affiliates on their portfolio investments.
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