Ropes & Gray advised genetic medicine company Arbor Biotechnologies in an oversubscribed and up-sized $215 million Series B financing. The financing was announced on Nov. 9.
Arbor plans to use the funds to advance its lead programs in liver and central nervous system disease into the clinic and continue investing in its novel gene editing technology.
The round was led by Temasek, Ally Bridge Group, and TCG Crossover. Additional new investors included Arrowmark Partners, Deep Track Capital, Great Point Ventures, Illumina Ventures, Janus Henderson Investors, Logos Capital, Ono Venture Investment, Piper Heartland Healthcare Capital, Ridgeback Capital Investments, Section 32, Surveyor Capital (a Citadel company), T. Rowe Price Associates, Tao Capital Partners, funds managed by Tekla Capital Management LLC, Woodline Partners LP, and an undisclosed global investment fund. The round also included investment from strategic partner Vertex Pharmaceuticals and continued support from existing investors, such as ARCH Venture Partners.
The Ropes & Gray team representing Arbor was led by venture capital and emerging companies partner Brad Flint (Boston) and included litigation & enforcement partner Brendan Hanifin (Chicago).
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