A Big Deal in BioTech

In one of the largest Series A financing deals for a biotech startup, Goodwin advised Versant Ventures in its deal with global life science company Bayer AG to create BlueRock Therapeutics, a company working to develop life-saving, next-generation regenerative medicines.

Challenge

Versant Ventures is a leading healthcare investment firm committed to helping exceptional entrepreneurs build the next generation of great healthcare companies. In seeking to team up with Bayer to launch BlueRock Therapeutics, Versant turned to Goodwin’s team of life sciences attorneys to help make the investment a reality.

Our approach

Versant invests across the healthcare sector and at all stages of company development, with an emphasis on the discovery and development of novel therapeutics. The creation of BlueRock required the creation of a structure addressing complex tax and operational requirements of a multinational startup. BlueRock also required the in-license of a unique portfolio of intellectual property to develop novel regenerative therapies in multiple disease areas. Versant and Bayer committed $225 million to launch BlueRock Therapeutics.

Outcome

The new funds should give BlueRock at least four years of runway, allowing the new company to advance a number of programs, with an initial focus on cardiovascular diseases and neurodegenerative disorders. This significant initial venture capital investment will allow BlueRock to pursue its vision to cure diseases with significant cell loss and diminished self-repair potential with an initial focus on cardiovascular, neurological and other conditions.