Goodwin represented Versant Ventures in launching BlueRock Therapeutics, a next-generation regenerative medicine company. Bayer and Versant are committing $225 million, representing one of the largest-ever series A financings for a biotech company. The funds are projected to give BlueRock Therapeutics at least four years of runway and will allow the new company to advance a number of programs into the clinic, with an initial focus on cardiovascular diseases and neurodegenerative disorders.
BlueRock Therapeutics will be led by a world-class team and has assembled its platform through a series of strategic partnerships with academia and industry.
Versant Ventures is a leading healthcare investment firm committed to helping exceptional entrepreneurs build the next generation of great healthcare companies. The firm invests across the healthcare sector and at all stages of company development, with an emphasis on the discovery and development of novel therapeutics. The company has $1.9 billion under management and offices in North America and Europe.
Bayer AG is a global enterprise with core competencies in the life science fields of health care and agriculture. Its products and services are designed to benefit people and improve their quality of life. The company aims to create value through innovation, growth and high earning power. In fiscal 2015, it employed approximately 117,000 people and had sales of €46.3 billion.
BlueRock Therapeutics is focused on breakthrough treatments based on the latest stem cell technology in combination with superior cell differentiation protocols. Its vision is to cure diseases with significant cell loss and diminished self-repair potential with an initial focus on cardiovascular, neurological and other conditions. The company will have R&D operations in Toronto, New York and Boston.
The Goodwin team advising Versant Ventures was led by partners Robert Puopolo, Mitch Bloom and Kingsley Taft and included partners Jason Breen, Daniel Karelitz and Sarah Solomon and associates Noelle Dubiansky, Erini Svokos, Bethany Withers and Amoli Pandya.
For additional details on the transaction, please read the press release.