Reston – November 18, 2024 – Cooley advised Aclaris Therapeutics (Nasdaq: ACRS), a clinical-stage biopharmaceutical company developing novel drug candidates for immuno-inflammatory diseases, on its exclusive license agreement with Biosion and $80 million private placement.
Under the terms of the agreement, Biosion will grant Aclaris worldwide rights (excluding Greater China) to BSI-045B, a potential best-in-class, clinical-stage, novel anti-thymic stromal lymphopoietin (TSLP) monoclonal antibody, and BSI-502, a potential best-in-class, preclinical-stage, novel bispecific antibody directed against both TSLP and interleukin-4 receptor (IL4R).
The private placement comprises 35,555,555 shares of common stock at a purchase price of $2.25 per share and is expected to close on or about November 19, 2024, subject to satisfying customary closing conditions. Vivo Capital led the placement, with participation by new and existing investors, including Forge Life Science Partners, Rock Springs Capital, RA Capital Management, Adage Capital Partners, Decheng Capital, Logos Capital and Samsara BioCapital.
Lawyers Mark Ballantyne, Brian Leaf, David Brinton and Arjan Ganji led the Cooley team advising Aclaris on its private placement, and lawyers Kenneth Krisko, Ruomu Li and Brian Stalter led the team advising on the licensing agreement.
Cooley has advised Aclaris since December 2014, including on its $63.3 million initial public offering in October 2015, and through many subsequent financings during its life as a public company.
Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law.
Cooley has 1,300+ lawyers across 19 offices in the United States, Asia and Europe, and a total workforce of more than 3,000.
This content is provided for general informational purposes only, and your access or use of the content does not create an attorney-client relationship between you or your organization and Cooley LLP, Cooley (UK) LLP, or any other affiliated practice or entity (collectively referred to as “Cooley”). By accessing this content, you agree that the information provided does not constitute legal or other professional advice. This content is not a substitute for obtaining legal advice from a qualified attorney licensed in your jurisdiction and you should not act or refrain from acting based on this content. This content may be changed without notice. It is not guaranteed to be complete, correct or up to date, and it may not reflect the most current legal developments. Prior results do not guarantee a similar outcome. Do not send any confidential information to Cooley, as we do not have any duty to keep any information you provide to us confidential. This content may be considered Attorney Advertising and is subject to our legal notices.