The Goodwin Life Sciences team advised Septerna on the pricing of its upsized initial public offering of 16,000,000 shares of its common stock at a public offering price of $18.00 per share. In addition, Septerna has granted the underwriters a 30-day option to purchase up to an additional 2,400,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. All of the shares are being offered by Septerna. The gross proceeds from the offering are expected to be $288.0 million, before deducting underwriting discounts and commissions and other offering expenses.
Septerna is a clinical-stage biotechnology company pioneering a new era of GPCR oral small molecule drug discovery powered by its proprietary Native Complex Platform™. Its industrial-scale platform aims to unlock the full potential of GPCR therapies and has led to the discovery and development of its deep pipeline of product candidates focused initially on treating patients in three therapeutic areas: endocrinology, immunology and inflammation, and metabolic diseases. Septerna was launched by preeminent drug discovery company builders and scientific leaders in the biochemistry, structural biology, and pharmacology of GPCRs.
The Goodwin team was led by Mitchell Bloom, Deepa Rich, Adam Johnson, Karin Yoo, Li Chang and Laura Garvey, and included Julie Tibbets, Elizabeth Mulkey, Javier Gonzalez Rivera, Matthew Wetzel, Heath Roosevelt Ingram, Grace Wirth, April Sun, Chris Jones, Nathaniel Hsieh, Noelle Dubiansky, Kathleen Kean, Daniela Sanchez, Alex Intile, Annabel Loose, Jacob Lee, Tim Worden, Luke Nauth, Lucy Sharples, Brian Mukherjee, Daniel Karelitz, and Ettore Santucci with assistance from Gaby Morales-Rivera, Katherine Hand, Claire Treesh, Aoife Devereux, Tricia Hojo, and Ruowen Li.
For more information on the deal, please read the pricing press release.