Ropes & Gray represented Sanofi in a $27 million strategic investment in Ventyx Biosciences, a clinical-stage biopharmaceutical company focused on advancing oral therapies for a broad range of inflammatory diseases with significant unmet medical need. Sanofi purchased 70,601 of the Company’s Series A non-voting convertible preferred stock, each share of which is initially convertible into 100 shares of common stock, at an as-converted price of $3.8243 per share of common stock. The transaction was announced in a Sept. 23 press release.
In connection with the equity investment, Ventyx Biosciences has agreed to grant Sanofi an exclusive right of first negotiation with respect to certain VTX3232 program rights.
The Ropes & Gray team included life sciences licensing partner Abigail Gregor and associate Dan Freshman and capital markets associate Sam Tansley.
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