Foley Represents TCG Crossover as Lead Investor in EUR 49.2M Crossover Financing for Abivax

14 September 2022 News

Foley & Lardner LLP recently represented TCG Crossover (TCGX) as the lead investor in the successful, oversubscribed EUR 49.2 million crossover financing for Abivax. TCGX was joined by additional investors, Venrock Healthcare Capital Partners, Deep Track Capital, Sofinnova Partners, Invus, and Truffle Capital.

Abivax is a phase 3 clinical-stage biotechnology company harnessing the immune system to develop novel treatments for inflammatory diseases, viral diseases, and cancer. Abivax is publicly listed on Euronext Paris.

The financing consisted of a EUR 46.2 million reserved equity capital increase and a EUR 2.9 million issuance of royalty certificates. It will be primarily used for further advancing the obefazimod global phase 3 clinical study program in ulcerative colitis, expanding the cash runway to the end of Q1 2023.

The Foley team was led by Partner Louis Lehot and included Partners Andy Rawlins and Raj Tanden, as well as Associates Ashley Lee and Stephen Moore. The team worked with French co-counsel Laurent Beauvoit from Lexelians in Paris.

Related Services

Insights

Ten Minute Interview: M&A Challenges & Opportunities
23 November 2022
Sujata “Sue” Sachdeva and Koss Corp.
23 November 2022
Busted
Cannabis Company Cops to SEC Accounting Fraud Charges
22 November 2022
Legal News: Cannabis Industry
Foley Automotive Report
22 November 2022
Dashboard Insights
CLE Weeks
5-16 December 2022
Milwaukee, WI
Foley Sponsors Ernst & Young Entrepreneur of the Year® Program
1 December 2021 - 30 November 2022
Michigan and Northwest Ohio Region
2022 Distressed Investing Conference
28 November 2022
New York, NY
Meet and Greet and Panel Discussion with E. Martin Estrada and Cuauhtemoc Ortega
28 November 2022
Los Angeles, CA