Fenwick represented MRL Ventures Fund, the strategic life sciences investment arm of Merck & Co., Inc. that is focused on innovative therapeutics companies developing transformative medicines, in participating in HotSpot Therapeutics’ $65 million Series B financing. The round was led by S.R. One, Limited and included funds managed by Tekla Capital Management, MRL Ventures Fund, Solasta Ventures and Brace Pharma (via affiliate Cleva Pharma), along with co-founding investors Atlas Venture and Sofinnova Partners.
HotSpot Therapeutics is a biotechnology company pioneering the discovery and development of first-in-class allosteric therapies targeting nature’s regulatory sites. The financing will accelerate the development of first-in-class therapies with genetically validated mechanisms for treatment of autoimmune diseases, rare diseases and cancer. More information can be obtained from HotSpot Therapeutics’ announcement.
The Fenwick transaction team included corporate partner Ian Goldstein, as well as associates Patrick Grilli and Jason Parkin.