Tarsus Pharmaceuticals Announces Oversubscribed $125 Million Private Placement Equity Financing

Gunderson Dettmer represented Tarsus Pharmaceuticals in its securities purchase agreement with certain qualified institutional buyers and accredited investors for a private investment in public equity (“PIPE”) financing. The transaction is expected to result in gross proceeds of approximately $125.0 million, before deducting placement agent fees and other private placement expenses.

The PIPE financing includes participation from existing investors of Alkeus Pharmaceuticals, following its recent acquisition by Tarsus, including TCGX, Bain Capital Life Sciences, and Wellington Management. Additional PIPE investors include new and existing Tarsus investors, ADAR1 Capital Management, Sirenia Capital Management LP, RTW Investments, and Vestal Point Capital, among others.

Tarsus intends to use the net proceeds from the PIPE financing to fund clinical development and commercial activities as it continues to apply proven science and new technology to revolutionize treatment for patients, starting with eye care.

The Gunderson deal team was led by Ryan Gunderson and Traci Biedermann and included Jack Weykamp.