Press Release November 15, 2017

Allena Pharmaceuticals Closes $75 Million IPO

The Life Sciences team advised Allena Pharmaceuticals, Inc. (NASDAQ: ALNA) in the closing of its approximately $75 million initial public offering on November 2, 2017. The offering consisted of 5,333,333 shares of the company’s common stock at a price to the public of $14.00 per share. Allena granted the underwriters a 30-day overallotment option to purchase up to 800,000 additional shares at the public offering price, less underwriting discounts and commissions.  

Based in Newton, Massachusetts, Allena Pharmaceuticals is a late-stage clinical biopharmaceutical company dedicated to developing and commercializing first-in-class, oral enzyme therapeutics to treat patients with rare and severe metabolic and kidney disorders. Its proprietary technological approach enables the company to design and develop stable, non-absorbable oral enzyme therapies that remain in the gastrointestinal, or GI, tract, where the enzyme can degrade these metabolites, allowing for removal from the body through the bowel. 

The Goodwin team was led by partner Michael Bison and included partner Daniel Lang and associates James Xu, Michael Cohen, Christina Erickson, Catherine Magazu, Andrew Senter and paralegal Pam Finan; partners Roger Cohen, Duncan Greenhalgh and Sarah Bock; counsel Stephanie Philbin and associates Shovon Ashraf, Kieran Johal and Tim Holahan, with invaluable assistance from partner Martin Carmichael

For additional details on the offering, please read the press release