Press Release September 04, 2019

Goodwin Advises Achilles Therapeutics on Major UK Funding Round

The London Life Sciences team advised Achilles Therapeutics on the completion of its £100 million Series B financing which is one of the largest growth stage venture rounds for a UK life sciences company this year.

Achilles is a Stevenage-based biopharmaceutical company developing personalised cancer immunotherapies. The fundraise, led by incoming US investor RA Capital Management, will deliver the next wave of immuno-oncology drug development and allow Achilles to continue the growth of its manufacturing capabilities and solid tumour pre-clinical product pipeline.

In addition to RA Capital Management’s investment, the fundraise was cornerstoned by Syncona and joined by new investors including Forbion, Invus, Perceptive Advisors and Redmile Group.

Sophie McGrath, partner in Goodwin’s Technology and Life Sciences group, said: “This is a significant transaction, both for Achilles and the UK life sciences sector. Achilles will undertake important clinical trials to bring life-changing therapies to the immuno-oncology market as a result of this milestone fundraising. This transaction further reinforces Goodwin’s reputation as the destination law firm for complex, cross-border life sciences transactions with investors from multiple jurisdictions.”

Dr Iraj Ali, CEO of Achilles Therapeutics, said: “Achilles is leading the next wave of immuno-oncology drug development. We have moved from concept to clinic-ready in less than three years. We are extremely pleased to welcome this excellent group of new investors to Achilles and I would like to personally thank our existing founding investors for their continued support. With this fundraising we have made a clear statement about the scale and nature of our ambitions to bring novel cancer therapies rapidly to patients with a high unmet medical need.”

The Goodwin cross-border team was led by partner Sophie McGrath and associate Kenny Walker-Durrant with assistance from partners Mitchell Bloom, Andrew Harrow, Duncan Greenhalgh, Stephen Charkoudian, Daniel Karelitz, Gretchen Scott and associate Rachel Thurbon.

For additional details on the financing, please read the press release.