Press Release July 29, 2014

Goodwin Advises SAGE Therapeutics on Successful IPO

Goodwin Procter advised SAGE Therapeutics on its recent initial public offering, which closed on July 23. SAGE sold 5,750,000 shares of common stock, including exercise of the over-allotment option in full, at $18 per share, the top end of its proposed range, raising $103.5 million before underwriting discounts and estimated offering expenses.

After SAGE initially sought to raise up to $69 million, higher demand among investors led to an increase in the share price and number of shares offered. SAGE’s shares began trading on the NASDAQ Global Market on July 18.

SAGE, based in Cambridge, Mass., is a biopharmaceutical company committed to developing and commercializing novel medicines to treat life-threatening, rare central nervous system disorders, where there are inadequate or no approved existing therapies. SAGE’s lead program, SAGE-547, is in Phase 1/2 clinical development for super-refractory status epilepticus, a life-threatening seizure condition, and is the first of several compounds the company is developing in its portfolio of potential seizure medicines.

SAGE’s proprietary chemistry platform has generated multiple new compounds that target GABAA and NMDA receptors, which are broadly accepted as impacting many psychiatric and neurological disorders. SAGE was launched in 2010 by an experienced team of research and development leaders, central nervous system experts and Third Rock Ventures.

SAGE has been a Goodwin client since 2011. Prior to representing SAGE in its initial public offering, the firm represented SAGE on a variety of corporate matters, including its $37.5 million Series A Preferred Stock financing, $15 million Series B Preferred Stock financing, and most recently, its $38 million Series C Preferred Stock financing, which closed in March 2014.

The Goodwin team was led by Mitchell Bloom and Michael Bison with corporate associates Laurie Burlingame and Jesse Nevarez; Stephanie Philbin (FDA) and Emily Beman (IPTS).