Press Release December 19, 2017

Six Biotech Public Offerings in One Week

In just over one week, Goodwin’s Life Sciences team represented six innovative clients as they closed their public offerings across the world.

argenx, a clinical-stage biotechnology company developing a deep pipeline of differentiated antibody-based therapies for the treatment of severe autoimmune diseases and cancer, closed its public offering in the United States of 5,106,000 American Depositary Shares (ADSs), at a price of $52.00 per ADS, for gross proceeds of approximately $266 million. This includes the full exercise of the underwriters’ option to purchase additional ADSs. Read more about argenx’s public offering.

bluebird bio, a clinical-stage biotechnology company committed to developing potentially transformative gene therapies for severe genetic diseases and cancer, closed its public offering of 3,243,244 shares of common stock at a price of $185 per share, for gross proceeds of $600 million. Read more about bluebird bio’s public offering.

Blueprint Medicines, a biotechnology company developing a new generation of targeted and potent kinase medicines to improve the lives of patients, closed its public offering totaling approximately $325.5 million in gross proceeds from the sale of 4,259,259 shares of its common stock at a public offering price of $81.00 per share, including the exercise in full by the underwriters of their option to purchase additional shares of common stock. Read more about Blueprint Medicines’ public offering.

Fate Therapeutics, a clinical-stage biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorders, closed its underwritten public offering of 10,953,750 shares of its common stock, which included 1,428,750 shares that were issued pursuant to the full exercise of the underwriters’ option to purchase additional shares, at a public offering price of $4.20 per share. Net proceeds from this offering were approximately $42.9 million, after deducting underwriting discounts and commissions and estimated offering expenses. Read more about Fate Therapeutics’ public offering.

Global Blood Therapeutics (GBT), a clinical-stage biopharmaceutical company dedicated to discovering, developing and commercializing novel therapeutics to treat grievous blood-based disorders, closed its underwritten public offering of its common stock for gross proceeds of approximately $100 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by GBT. Read more about GBT’s public offering.

Proteostasis, a clinical-stage biopharmaceutical company dedicated to the discovery and development of groundbreaking therapies to treat cystic fibrosis and other diseases caused by dysfunctional protein processing, closed its public offering totaling approximately $40 million in gross proceeds from the sale of 8,000,000 shares of its common stock at a public offering price of $5.00 per share, including the exercise in full by the underwriters of their option to purchase additional shares of common stock. Read more about Proteostasis Therapeutics’ public offering.

Goodwin’s Life Sciences practice was recently named “Practice Group of the Year” by Law360, which called the firm “a top choice for high-profile pharmaceutical clients, particularly in licensing deals, mergers and acquisitions, and initial public offerings.” Goodwin also advised the two largest biotech public offerings of the year – Alnylam at $805 million and bluebird bio at $600 million. Goodwin has been recognized by U.S. News and World Report - Best Lawyers as “Biotech Firm of Year” for five out of six years including the most recent recognition for 2018.