Latham & Watkins Advises Endeavor BioMedicines on US$132.5 Million Oversubscribed Series C Financing

Endeavor BioMedicines (Endeavor), a clinical-stage biotechnology company developing medicines with the potential to deliver transformational clinical benefits to patients with life-threatening diseases, has announced the closing of a US$132.5 million Series C financing, including the conversion of a US$5 million convertible instrument. The oversubscribed round was led by AyurMaya, an affiliate of Matrix Capital Management, with participation from new investors including Fidelity Management & Research Company, Invus, SymBiosis, Velosity Capital, and Woodline Partners; and strong support from existing investors including funds managed by abrdn Inc. (formerly Tekla Capital Management LLC), Ally Bridge Group, Avidity Partners, Eckuity Capital, Longitude Capital, Omega Funds, Perceptive Advisors, Piper Heartland Healthcare Capital, Silver Arch Bio, and T. Rowe Price Associates.

Latham & Watkins LLP advised Endeavor in the financing with a corporate team led by Orange County partner Daniel Rees, with associates Christian Hollweg and Alex Stuart-Lovell. Advice was also provided on benefits and compensation matters by San Diego partner Holly Bauer.