Latham Advises Timberlyne Therapeutics on US$180 Million Series A Financing and Concurrent Exclusive License From KeyMed Biosciences

Timberlyne Therapeutics, a clinical-stage biopharmaceutical company focused on the development of novel therapies for autoimmune disorders, has announced the close of a US$180 million Series A financing to advance CM313, a potentially best-in-class monoclonal antibody targeting CD38, for diseases of high unmet medical needs.

Timberlyne has obtained exclusive development and commercialization rights to CM313 worldwide outside of greater China from Keymed Biosciences, a leading drug discovery and development company. Under the terms of the licensing agreement, Keymed will receive an undisclosed upfront payment, as well as future cash milestones, royalties on any potential future net sales, and equity ownership in Timberlyne. Keymed retains development and commercialization rights in greater China.

Latham & Watkins LLP advised Timberlyne Therapeutics in the financing with a corporate team led by San Diego partner Matt Bush, with associates Christian Hollweg, Alex Stuart-Lovell, and Samantha Wang, and in the licensing agreement with a team led by San Diego/Bay Area partner Chris Hazuka. Advice was also provided on CFIUS matters by Washington, D.C. partner Les Carnegie and counsel Catherine Hein; and on compensation and benefits matters by San Diego partner Holly Bauer, with associate Julie Voorhes.