Fenwick represented Lycia Therapeutics, a leader in extracellular protein degradation, in its $70 million Series B financing. The round was led by Redmile Group with participation from founding investor Versant Ventures and new investors Cowen Healthcare Investments, Invus, RTW Investments, Eli Lilly and Company and Alexandria Venture Investments.

Lycia will use the funds to continue to progress its internal undisclosed discovery pipeline of lysosomal targeting chimeras (LYTAC) degraders. More information can be obtained from the company's announcement.

The Fenwick transaction team was led by corporate partners Bill Bromfield and Effie Toshav, and included associates Myles Gutenkunst and Jennifer Wu; and licensing senior associate Glenn Foulds.

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