Christine Turner

San Francisco – February 9, 2023 – Cooley advised Structure Therapeutics, a clinical-stage global biopharmaceutical company, on its $185.3 million initial public offering, including the full exercise of the underwriters’ option to purchase additional American depositary shares. Lawyers Charlie Kim, Patrick Loofbourrow, Andrew Harline and Su Lian Lu led the Cooley team.

The offering marks the first sizable US life sciences IPO this year. Structure Therapeutics will use the proceeds to develop new oral therapies for the treatment of various diseases, including those impacting the metabolic, cardiovascular and pulmonary systems. Its lead product candidate targets Type 2 diabetes and obesity.

Structure Therapeutics aims to develop and deliver novel oral therapeutics to treat a wide range of chronic diseases with unmet medical needs. Its differentiated technology platform leverages structure-based drug discovery and computational chemistry expertise, enabling it to build a pipeline of product candidates. The company currently focuses on G-protein-coupled receptors as a therapeutic target class.

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Cooley advised the underwriters in Arcutis Biotherapeutics’ $172.5 million follow-on offering of 8,625,000 shares of common stock at a public offering price of $20.00 per share. Arcutis is a biopharmaceutical company developing and commercializing innovative treatments for immuno-dermatological diseases. Partners Denny Won, Kristin VanderPas, Charlie Kim and Dave Peinsipp led the Cooley team.

Cooley advised the underwriters on Apellis Pharmaceuticals’ $402.5 million follow-on offering of 8,563,830 shares of common stock at a price to the public of $47.00 per share. Apellis is a global biopharmaceutical company committed to leveraging courageous science, creativity and compassion to deliver life-changing therapies. Partners Div Gupta and Brent Siler led the Cooley team.

Cooley advised the underwriters on IGM Biosciences’ $230 million follow-on offering of non-voting common stock and common stock.  J.P. Morgan, BofA Securities, Stifel and Guggenheim Securities acted as joint book-running managers for the offering. IGM Biosciences is a biotechnology company involved in the development of engineered IgM antibodies for the treatment of cancer patients. Partners Denny Won, Kristin VanderPas, and Charlie Kim led the Cooley team advising the underwriters.