Fenwick Represents Sonoma Biotherapeutics in $265 Million Series B Financing

Fenwick represented Sonoma Biotherapeutics, an immune tolerance company focused on the development of regulatory T cell (Treg) therapies, in its oversubscribed $265 million Series B financing.

Life sciences and healthcare-focused investors participated in the Series B, led by Ally Bridge Group, with participation from new investors, including ArrowMark, Avidity Partners, Casdin Capital, Deep Track Capital, Fidelity Management & Research Company LLC, Frazier Healthcare Partners, GV, Janus Henderson Investors, Mirae Asset, NS Investment, Osage University Partners, Piper Heartland Healthcare Capital, Vertex Ventures HC and an undisclosed global investment fund. Existing investors also supported this financing, including 8VC, ARCH Venture Partners, Alexandria Venture Investments, the JDRF T1D Fund, LifeForce Capital, Lilly Asia Ventures Biosciences and Octagon Capital.

Proceeds from the financing will be used to advance Sonoma Bio’s Treg cell therapy platform and a novel Teff conditioning biologic into the clinic to treat multiple, severe autoimmune and inflammatory diseases and to further invest in and scale up manufacturing operations in order to support supply for initial clinical studies. More information can be obtained from the company’s announcement.

The Fenwick transaction team was led by corporate partner Matthew Rossiter as well as corporate associates Taimur Case and Karin Hjorth.