Star Therapeutics Announces $90M Series C Financing Led by Sofinnova
Gunderson Dettmer represented client Star Therapeutics, a biotechnology company developing life-changing therapies, in its oversubscribed $90 million Series C financing led by Sofinnova Investments. Star Therapeutics interrogates areas of novel biology to develop life-changing therapies for as many patients as possible, initially addressing unmet needs in hematology and immunology. Star consists of a constellation of companies, each focused on a specific area of biology with first-in-class therapies. The new capital will support the clinical advancement of VGA039, a first-in-class antibody currently being evaluated in a Phase 1a/1b study for von Willebrand disease and to continue Star’s approach as an innovation engine to generate additional biotech companies.
In the announcement of the transaction, Star Therapeutics Chief Executive Officer and Founder Adam Rosenthal said, “Our outstanding syndicate of seasoned life sciences investors is ideally suited to support our growth and mission to develop life-changing therapies for as many patients as possible, building on our success to date with novel therapeutic approaches in hematology and immunology. To date, we have unveiled two biotech companies that have rapidly advanced antibodies from idea stage to the clinic, and we aim to replicate this success with additional biotech companies in the Star portfolio.”
The Gunderson Dettmer deal team was co-led by Marcia Hatch and Nate Gray and included Steve Ray, Gina Marek, Charlie Sorge, Melissa Brekke, Madhu Narasimhan and Doug Ikegami.