Sanofi Makes Strategic Equity Investment in Diabetes Drugmaker Zucara Therapeutics

In The News
November 13, 2024

Ropes & Gray advised Sanofi in connection with Toronto-based Zucara Therapeutics’ $20 million Series B financing. Diabetes life sciences company Zucara is developing a once-daily therapeutic, ZT-01, to prevent hypoglycemia in people with diabetes. Proceeds from the investment will fund the remainder of Zucara’s ongoing Phase 2a clinical trial to develop a once-weekly version of ZT-01. As part of the agreement, Sanofi will also receive an exclusive right of first negotiation. The transaction was announced on November 12.

The Ropes & Gray team included venture capital & emerging companies and life sciences licensing associate Daniel Freshman, venture capital & emerging companies and life sciences licensing associate Philip Wu and life sciences licensing partner Abigail Gregor.