Advising leading-edge life sciences companies on transformational roll-up and $114m crossover financing

We have advised Oppilan Pharma Limited and Zomagen Biosciences Limited on their roll-up and sale into Ventyx Biosciences, Inc. and concurrent $114m crossover financing led by venBio Partners. 

Ventyx, Oppilan and Zomagen were established as asset-centric companies with immunology compounds, each linked to founder, Raju Mohan, and backed by New Science Ventures. The transaction has brought together the three cutting-edge life sciences companies to create a clinical-stage biotechnology company advancing a pipeline of immune modulators to treat inflammatory diseases and autoimmune disorders. The combined venture has attracted a top tier international investor base, including Third Point, RTW Investments, Janus Henderson Investors, Wellington Management and Orbimed. 

Commenting on the deal, Corporate Technology Partner Ross McNaughton, said: "The deal comes hot on the heels of the recent Centessa roll-up and $250m financing that we acted on last month and underlines our expertise in the life sciences market. I have been working with Oppilan and Zomagen since their UK inceptions in 2015 and 2019 and throughout their various funding rounds, we are excited to see this round come together and wish them very well in the next phase of their development."

The team was led by Corporate Technology Partner Ross McNaughton with support from Associate Richard Faichney.  

We advised as UK legal counsel on the transaction in collaboration with Wilson Sonsini Goodrich & Rosati (WSGR), who served as US counsel.

This is the second high-profile roll-up and crossover financing within a month that the firm has acted on, following the $250 million raise by Centessa Therapeutics.

This deal represents another sizable corporate transaction for our Life Sciences & Healthcare team, which continues to operate at the top of the market. The team works with many of the industry's cutting-edge pharmaceutical, biotechnology, and medical device companies, from leading multinationals to earlier stage enterprises ready to up-scale their business. We guide ambitious global clients within these dynamic and innovative industries through the maze of connected legal, commercial, and regulatory challenges.