Thomas Welk

Cooley advised Acelyrin, INC., a late-stage biopharmaceutical company, in its $621 million initial public offering, the second-largest biotechnology IPO and largest clinical-stage biotechnology IPO ever.

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 Oyster Point Pharma, a top ophthalmology-focused biopharmaceutical company, on its definitive agreement to be acquired by global healthcare company Viatris. Partners Mika Reiner Mayer, Brandon Fenn, Div Gupta and Ian Nussbaum led the Cooley team advising Oyster Point Pharma.

Cooley advised Instructure, a Thoma Bravo-owned education technology company, on its agreement to sell Bridge, an employee learning, performance and skills development platform, to Learning Technologies Group. Lawyers Matt Hemington, David Silverman, Anna Maria Galinska, Caitlin Breitenbruck and Steve Tonsfeldt led the Cooley team advising Instructure.

Cooley advised publicly traded education technology company Instructure on its agreement to sell to private equity firm Thoma Bravo. The transaction, which values Instructure at approximately $2 billion, is expected to close in Q1 2020. Cooley lawyers Matt Hemington, Steve Tonsfeldt, David Silverman and Ian Nussbaum led the team advising the company.