Foley & Larder LLP represented TCG Crossover (“TCGX”) as an investor in the $120 million private placement for Silence Therapeutics. Additional investors included 5AM Ventures, Frazier Life Sciences, Logos Capital, Nextech Invest (on behalf of one or more funds managed by it), Redmile Group, and Vivo Capital.
Silence is a UK-headquartered biotech company pioneering the design and development of siRNAs (short interfering RNAs) and advancing a new generation of medicines to potentially address the needs of patients who have limited or inadequate treatment options. Silence intends to use the net proceeds from the deal to advance its ongoing clinical development for divesiran (SLN124) and continued progression of zerlasiran (SLN360) manufacturing and clinical activities as well as for working capital and general corporate purposes.
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 and Clyde Tinnen and included associate Trevor Mullin.