Baker McKenzie advised LSP, one of Europe’s largest and most experienced institutional healthcare investment funds, on the lead of an oversubscribed Series B fundraising of $38.5 million for accelerated product development and commercial operations in the U.S. of DNA Script. Further investors in the Series B are Bpifrance, Illumina Ventures, Merck Ventures, Sofinnova Partners, Kurma Partners, Idinvest Partners and undisclosed strategic investors
The proceeds will enable DNA Script to accelerate the development of the company’s first products based on its industry-leading enzymatic technology for de novo synthesis of nucleic acids. The company is prioritizing the recruitment of top talent in the U.S. for its product development and commercialization teams in preparation for product launch, as well as on expanding its Paris-based research team.
A cross-border team of corporate and life sciences lawyers of Baker McKenzie around lead partner Berthold Hummel advised LSP on all legal aspects of the deal.
"We are grateful to be the law firm of choice on this competitive equity financing round with a unique full scale life sciences legal and industry expertise for our client LSP, leading the syndicate of well respected financial and strategic investors in a successful fundraising for DNA Script." comments Baker McKenzie corporate partner Berthold Hummel.
LSP is an independent European investment firm, providing financing for private and public life sciences companies. LSP’s mission is to connect investors to inventors, focusing on unmet medical needs. Since the late 1980s, LSP’s management has invested in about 100 innovative enterprises, many of which have grown to become leaders of the global life sciences industry. With over €2.0 billion ($2.3 billion) of investment capital raised to date and offices in Amsterdam, Munich and Boston, LSP is one of Europe’s leading life sciences investors. LSP also invests in public companies through its Euronext-listed LSP Life Sciences Fund (Bloomberg: LSP NA).
Founded in 2014 in Paris, DNA Script is the world’s leading company in manufacturing de novo synthetic nucleic acids using an enzymatic technology. The company aims at accelerating innovation in life sciences and technology through rapid, affordable, and high-quality DNA synthesis. DNA Script’s approach leverages nature's billions of years of evolution in synthesizing DNA to enable genome scale synthesis.
Baker McKenzie's Corporate / M&A team regularly advises big pharma, financial investors and early stage biotech companies on domestic and international healthcare transactions. Most recently, Baker McKenzie advised Hitachi Chemical Company, Ltd., on the take over of German apceth Biopharma, Forbion as lead investor on a € 17 million Series C Equity Financing of Omeicos Therapeutics as well as on a USD 54 million Series A Equity Financing of Gotham Therapeutics Corporation, Mundipharma on the sale of its Limburg production, CureVac AG on a collaboration with Eli Lilly and Hillhouse Capital as co-investor in the € 50 million Series C cross-over financing of Hookipa Biotech.
Legal advisor to LSP:
Lead: Corporate/M&A: Berthold A. Hummel (partner, Munich),
Raphael Sendowski (associate Paris)
Team: Corporate/M&A: Julia Braun LL.M. (counsel, Munich), Matthieu Grollemund (partner, Paris), Gautier Valdiguie, Madalina-Georgiana Asandului (both associates, Paris)
Tax: Guillaume Le Camus (partner, Paris), Agnès Charpenet (partner, Paris), Johanna Da Costar (associate, Paris)
Life Sciences: Julie Yeni (partner, Paris), Isabelle Giusti (associate, Paris)
Employment: Jeremie Paubel (partner, Paris), Roxane Raissi (associate, Paris)