The Life Sciences team advised SpringWorks Therapeutics, Inc. on the closing of its $125 million Series B preferred stock financing led by Perceptive Advisors. The proceeds from the financing will be used to advance SpringWorks’ two late-stage rare disease oncology programs towards potential regulatory approval and commercialization: nirogacestat, a gamma secretase inhibitor for the treatment of desmoid tumors, and PD-0325901, a MEK inhibitor for the treatment of neurofibromatosis type 1-associated plexiform neurofibromas. The proceeds will also support the continued expansion of the company’s emerging targeted oncology programs, as well as future in-licensing opportunities and clinical collaborations in rare diseases and cancer.
New investors participating in this financing round include Boxer Capital of Tavistock Group, HBM Healthcare Investments, BVF Partners, Surveyor, Samsara BioCapital, ArrowMark Partners, GlaxoSmithKline, and Laurion Capital Management, as well as several other long-term institutional investors. All of the company’s existing investors – OrbiMed, Bain Capital, Pfizer, via Pfizer Ventures, and LifeArc – also participated in the offering.
SpringWorks Therapeutics is a clinical-stage biopharmaceutical company focused to developing life-changing medicines for patients with severe rare diseases and cancer. Since launching in 2017, the company has worked to identify and advance promising science, beginning with its licensed clinical therapies from Pfizer Inc. SpringWorks pioneers efficient pathways for drug development, leveraging shared-value partnerships with patient advocacy groups, innovators in industry and academia, and investors so that together, they can unlock the full potential of science for patients.
For additional details on the financing, please read the press release.