Fenwick & West represented Prelude Therapeutics, a privately held, clinical-stage biopharmaceutical company focused on the discovery and development of small molecule drugs that target key drivers of cancer cell growth, survival and resistance, in its $60 Million Series B financing. The financing was co-led by Prelude’s existing institutional investors, including OrbiMed Advisors.
The funding will be used to advance Prelude’s proprietary PRMT5 inhibitor, PRT543, through proof of concept clinical studies. PRT543 is in a parallel dose escalation Phase 1 clinical trial for solid tumors, myeloid malignancies and lymphomas. It will also be used to advance additional differentiated compounds from the PRMT5 program and strengthen Prelude’s discovery, preclinical and clinical development infrastructure to support a rapidly advancing pipeline beyond PRMT5. More information on Prelude Therapeutics’ Series B financing can be obtained from the company website.
The Fenwick transaction team was led by corporate lawyers Ian Goldstein, Effie Toshav, Andrew Murphy and Mitchell Duncombe.