Press Release June 29, 2018

Goodwin Advises on Six Biopharmaceutical Public Offerings Worth $653 Million

The past two weeks have been the busiest yet for the biopharmaceutical industry with eleven initial public offerings. Goodwin’s Life Sciences team represented six of these issuers, with offering totaling more than $653 million.

  • Aptinyx (“APTX”), a clinical-stage biopharmaceutical company developing transformative therapies for challenging neurologic disorders, closed its public offering of 7,359,998 shares of common stock at a price of $16.00 per share, for gross proceeds of approximately $117.8 million. Read more about Aptinyx’s public offering.
  • Avrobio (“AVRO”), a Phase 2 clinical stage gene therapy company focused on developing potentially curative ex vivo lentiviral-based gene therapies to treat rare diseases, closed its public offering of 6,035,151 shares of common stock at a public offering price of $19.00 per share, before underwriting discounts and commissions, for gross proceeds of approximately $114.7 million. Read more about Avrobio’s public offering.
  • Eidos Therapeutics (“EIDX”), a clinical stage biopharmaceutical company focused on addressing the large and growing unmet need in diseases caused by transthyretin (TTR) amyloidosis (ATTR), closed its public offering of 7,187,500 shares of common stock at a price of $17.00 per share, for gross proceeds of approximately $122.2 million, before deducting underwriting discounts and commissions and other offering expenses payable by Eidos. Read more about Eidos Therapeutics’ public offering.
  • Magenta Therapeutics (“MGTA”), a clinical-stage biotechnology company developing novel medicines to bring the curative power of bone marrow transplant to more patients, closed its public offering totaling approximately $100 million in gross proceeds from the sale of 6,666,667 shares of its common stock at a public offering price of $15.00 per share, including the exercise in full by the underwriters of their option to purchase additional shares of common stock at the initial public offering price. Read more about Magenta Therapeutics’ public offering.
  • Neon Therapeutics (“NTGN”), a clinical-stage immuno-oncology company developing neoantigen-based therapeutics, closed its public offering of 6,250,000 shares of common stock at a public offering price of $16.00 per share, before underwriting discounts and commissions, for gross proceeds of approximately $100 million. Read more about Neon Therapeutics’ public offering.
  • Xeris Pharmaceuticals (“XERS”), a specialty pharmaceutical company leveraging its novel technology platforms to develop and commercialize ready-to-use injectable and infusible drug formulations, closed its public offering of 6,555,000 shares of common stock at a price of $15.00 per share, before underwriting discounts, for gross proceeds of approximately $98.3 million. Read more about Xeris Pharmaceuticals’ public offering.

In 2018 alone, Goodwin has represented an additional four biotechnology companies on their public offerings, bringing the firm’s total representation in the biotechnology space to more than $1.5 billion for the year. Learn more about ResTORbio, Scholar Rock, Surface Oncology, and Unum Therapeutics’ public offerings.

Goodwin’s Life Sciences practice was named “Practice Group of the Year” for the past two years by Law360, which called Goodwin “a top choice for high-profile pharmaceutical clients, particularly in licensing deals, mergers and acquisitions, and initial public offerings.” Goodwin has been recognized by U.S. News and World Report - Best Lawyers as “Biotech Firm of Year” for five out of last six years. In addition, the firm was named “2017 IP Law Firm of the Year” by LMG Life Sciences.