Foley & Lardner LLP represented TCGX as co-lead investor in the $150 million Series B financing for Alkeus Pharmaceuticals. TCGX was joined by Bain Capital Life Sciences, with additional participation by Wellington Management and Sofinnova Investments.
Alkeus Pharmaceuticals is a biopharmaceutical company focused on developing therapies for serious diseases of the eye with high unmet need. Alkeus’ lead candidate, gildeuretinol (ALK-001), is currently being evaluated in clinical trials for the treatment of Stargardt disease and for geographic atrophy secondary to dry age-related macular degeneration (AMD). Stargardt disease is a leading mono-genetic cause of blindness in children and young adults, with more than 30,000 people affected in the U.S. and more than 150,000 worldwide. Geographic atrophy is the chronic progressive degeneration of the macula in the eye, characteristic of the late stage of age-related macular degeneration (AMD), with more than one million people affected in the U.S. and more than five million worldwide.
Alkeus will use the proceeds from this financing to expand its team and drive gildeuretinol towards NDA submission and FDA approval as rapidly as possible.
TCG Crossover (“TCGX”) is a Palo Alto-based investment firm focused on investing in innovative pre-IPO and public drug discovery companies. TCGX invests in visionary entrepreneurs leveraging recent scientific breakthroughs to develop transformative medicines. TCGX invests primarily in North America and Europe- or China-based companies doing U.S. drug development.
The Foley team was led by partners Louis Lehot, Lyman Thai, and Antoinette Konski with support from associates Trevor Mullin and Saige Gallop.