Reston – November 18, 2024 – Cooley advised Aclaris Therapeutics (Nasdaq: ACRS), a clinical-stage biopharmaceutical company developing novel drug candidates for immuno-inflammatory diseases, on its exclusive license agreement with Biosion and $80 million private placement.
Under the terms of the agreement, Aclaris will grant Biosion worldwide rights (excluding Greater China) to BSI-045B, a potential best-in-class, clinical-stage, novel anti-thymic stromal lymphopoietin (TSLP) monoclonal antibody, and BSI-502, a potential best-in-class, preclinical-stage, novel bispecific antibody directed against both TSLP and interleukin-4 receptor (IL4R).
The private placement comprises 35,555,555 shares of common stock at a purchase price of $2.25 per share and is expected to close on or about November 19, 2024, subject to satisfying customary closing conditions. Vivo Capital led the placement, with participation by new and existing investors, including Forge Life Science Partners, Rock Springs Capital, RA Capital Management, Adage Capital Partners, Decheng Capital, Logos Capital and Samsara BioCapital.
Lawyers Mark Ballantyne, Brian Leaf, David Brinton and Arjan Ganji led the Cooley team advising Aclaris on its private placement, and lawyers Kenneth Krisko, Ruomu Li and Brian Stalter led the team advising on the licensing agreement.
Cooley has advised Aclaris since December 2014, including on its $63.3 million initial public offering in October 2015, and through many subsequent financings during its life as a public company.
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