Represented Shape Memory Medical Inc. with the closing of the initial tranche of its $14 million Series B Preferred Stock Financing. The round was led by HBM Healthcare Investments Ltd. with additional investments coming from Wexford Capital LP Fund, HBM-MedFocus Fund, and Emergent Medical Partners. Read the press release.
Represented Rebound Therapeutics Corporation in connection with the initial closing of its Series B Preferred Stock financing. The round has been fully subscribed for a total purchase price of $16.5 million.
Represented Santen Pharmaceuticals, Co., Ltd. of Osaka, Japan in connection with a strategic investment in Regenerative Patch Technologies, LLC, an early stage company located in the Bay Area, which is developing stem cell therapies for treatment of retinal diseases.
Represented Interventional Spine, Inc. in its sale of substantially all of its assets to DePuy Synthes, a subsidiary of Johnson & Johnson (NYSE: JNJ), for an undisclosed price.
On September 19, 2016, Stradling client Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) announced an exclusive worldwide license agreement providing Tarveda Therapeutics, Inc. rights for the discovery, development and commercialization by Tarveda of products based on Madrigal’s HSP90 Drug Conjugate program, including the lead clinical candidate, PEN-866.
Stradling represented Sequent Medical, Inc. in its merger with a U.S. subsidiary of Terumo Corporation, a global medical device company. Under the terms of the deal, Terumo acquired Sequent in an all-cash transaction for $380 million ($280 million up front and up to an additional $100 million if certain milestones are achieved).
Represented TherOx, Inc. in its second subsequent closing of its Series A Preferred Stock financing. In this closing, TherOx issued and sold shares of its Series A Preferred Stock to investors, including Zoll Medical Corporation.
Represented Endologix, Inc. (NasdaqGS: ELGX) in its merger with TriVascular Technologies, Inc. (NasdaqGS: TRIV).
Represented Endologix, Inc. (Nasdaq: ELGX) in its registered underwritten offering of $125 million of senior convertible notes. Endologix will use approximately $56 million of the net proceeds from the offering to repay certain outstanding indebtedness of TriVascular Technologies, Inc. (Nasdaq: TRIV) upon the closing of the company’s acquisition of TriVascular. Endologix will use the remainder of the net proceeds to finance the commercialization of its products, for working capital and other general corporate purposes.
Stradling client TherOx, Inc. completed the first closing of its sale of new Series A Preferred Stock to existing and new investors, including lead investor DAG Ventures, and concurrently recapitalized existing Bridge Notes, Preferred Stock and Common Stock, for a total purchase price of approximately $16.8 million.
Endologix (NASDAQ: ELGX) established a $20 million bilateral revolving credit facility with Bank of America, which refinanced in full their prior Wells Fargo facility.
Represented Allegro Ophthalmics, LLC in its transaction with Hanmi Pharmaceutical Co., Ltd. which includes license of certain Asian rights to Hanmi, and a $20 million strategic investment by Hanmi in Allegro. Allegro develops novel integrin peptide therapies for the treatment of vitreoretinal diseases.