Ropes & Gray represented Zenas BioPharma, Inc. (Nasdaq: ZBIO) in a $200 million offering of 2.50% convertible senior notes due 2032 and 5,000,000 shares of its common stock valued at $100 million. The offerings priced on March 26 and closed on March 31.
Zenas intends to use the net proceeds from the offerings to support the planned U.S. commercial launch of obexelimab if approved for the treatment of IgG4-RD, an inflammatory condition that can affect multiple organs. The proceeds would also advance the company’s development pipeline, including funding the ongoing and planned orelabrutinib Phase 3 clinical trials for progressive multiple sclerosis and Phase 1 and Phase 2 clinical development for ZB021, a preclinical, potentially best-in-class, oral, IL-17AA/AF inhibitor with multiple potential therapeutic areas.
Zenas is a clinical-stage global biopharmaceutical company committed to becoming a leader in the development and commercialization of transformative therapies for patients living with autoimmune diseases.
The team was led by capital markets partner Tom Danielski, counsel Nicholas Roper, and associate Emily Weiss-Cook and tax partner David Saltzman.
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