Ropes & Gray attorneys represented Novalis LifeSciences, a boutique investment and advisory firm for the life science industry, in its investment in Telesis Bio, a provider of molecular solutions for synthetic biology applications. The agreement was announced in a May 31 press release and closed on June 5.
The securities purchase agreement provides Telesis Bio with $28 million in initial upfront funding through the private placement of redeemable convertible preferred stock. The transaction also includes the issuance of warrants that, if cash exercised, would provide Telesis Bio with another $46.2 million.
The transaction was led by capital markets partner Tom Fraser and counsel Ray Grant.
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