TLDR:
- Zenas BioPharma announced an upsized $200 million Series C preferred stock financing led by SR One, Norwest Venture Partners, and Delos Capital.
- The financing will support mid- to late-stage clinical development programs for Zenas BioPharma’s lead product candidate, obexelimab.
On May 7, 2024, Zenas BioPharma, a clinical-stage global biopharmaceutical company focused on developing inflammation and immunology-directed therapies, revealed an upsized $200 million Series C preferred stock financing. The round was spearheaded by SR One and saw participation from NEA, Norwest Venture Partners, and Delos Capital, as well as Enavate Sciences, Longitude Capital, Federated Hermes Kaufmann Funds, and Arrowmark Partners. Existing investors such as Fairmount, Wellington Management, Rock Springs Capital, Pivotal bioVenture Partners, and others also participated in the funding round.
The proceeds from the financing will be used to sustain ongoing mid- to late-stage clinical development programs for Zenas BioPharma’s leading product candidate, obexelimab. This bifunctional monoclonal antibody targets CD19 and FcγRIIb to suppress the activity of B cells, plasmablasts, and plasma cells expressing CD19. Wilson Sonsini Goodrich & Rosati advised SR One, Norwest Venture Partners, and Delos Capital on the transaction.
The legal team at Wilson Sonsini that handled the transaction included Dan Koeppen, Kassandra Castillo, Karl Kobylecki, Mike Hostetler, Feng Tian, Minerva Wong, and Sarah Walker.
