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<p>On January 12, 2023, Welcome Homes, a New York City-based proptech company that delivers luxurious homes at a guaranteed price in just a few clicks, announced that it has raised more than $29 million in Series A funding, led by Era Ventures. The funding round also included participation from Parker89, Montage Ventures, Foundamental, Global Founders Capital, Activant Capital, Gaingels, Elefund, and Arkin Holdings. Wilson Sonsini Goodrich and Rosati advised Welcome Homes on the transaction.</p>

<p>The new funding will be used to hire talent to further develop Welcome Homes' proprietary land technology, design new home models, and expand into new markets throughout the U.S.</p>

<p>The Wilson Sonsini team that advised Welcome Homes on the transaction included<span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-1420" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1420" href="https://www.wsgr.com/en/people/megan-j-baier.html">Megan Baier</a>,<span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-226997" title="Carole J. Rosenberg" href="https://www.wsgr.com/en/people/carole-j-rosenberg.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::226997">Carole Rosenberg</a>, and<span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-1899" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1899" href="https://www.wsgr.com/en/people/brett-a-schulman.html">Brett Schulman</a>.</p>

<p>For more information, please see Welcome Homes&rsquo;<span>&nbsp;</span><a rel="noopener" href="https://www.prnewswire.com/news-releases/welcome-homes-raises-29m-in-series-a-funding-round-301720720.html" target="_blank">press release</a>.</p>


Wilson Sonsini Advises Welcome Homes on $29 Million Series A

<p>On January 19, 2023, SetPoint Medical, a clinical-stage healthcare company dedicated to patients with chronic autoimmune diseases, announced an $80 million preferred stock financing co-led by new investors Norwest Venture Partners and Viking Global Investors. New investor Gilmartin Capital also participated in the financing, along with returning investors New Enterprise Associates (NEA), Action Potential Venture Capital, Boston Scientific, Topspin Fund, Euclidean Capital, Morgenthaler Ventures, Richard King Mellon Foundation, ShangBay Capital, Ascendum Capital, Catalio Capital Management, Midas Capital, Citta Capital, SVE Capital, and an undisclosed strategic investor. Wilson Sonsini Goodrich and Rosati represented SetPoint Medical in the transaction. &nbsp;</p>

<p>The company is developing its novel platform for the treatment of chronic, inflammation-mediated autoimmune diseases and is initially focused on a potentially less immunosuppressive option for the treatment of rheumatoid arthritis (RA). Proceeds from the financing will be used to complete the company's ongoing RESET-RA trial and subsequent U.S. Food and Drug Administration (FDA) regulatory submissions and early commercialization for the rheumatoid arthritis indication. The RESET-RA study is a multicenter, double-blind, randomized, sham-controlled clinical trial evaluating SetPoint Medical&rsquo;s investigational platform technology for treatment of RA using vagus nerve stimulation. The company recently announced the first patient enrolled in Stage 2 of the study.</p>

<p>The Wilson Sonsini team that advised SetPoint on the transaction includes<span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-1109" title="Philip H. Oettinger" href="https://www.wsgr.com/en/people/philip-h-oettinger.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1109">Philip Oettinger</a>,<span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-1530" title="Jesse Schumaker" href="https://www.wsgr.com/en/people/jesse-schumaker.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1530">Jesse Schumaker,</a><span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-180599" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::180599" href="https://www.wsgr.com/en/people/james-kim.html">James Kim</a>,<span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-228192" title="Rana Eid" href="https://www.wsgr.com/en/people/rana-eid.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::228192">Rana Eid</a>, and Haley Silver.</p>

<p>For more information, please see SetPoint Medical&rsquo;s<span>&nbsp;</span><a rel="noopener" href="https://www.businesswire.com/news/home/20230119005196/en/SetPoint-Medical-Announces-80M-Preferred-Stock-Financing-to-Advance-Company%E2%80%99s-Novel-Treatment-for-Autoimmune-Diseases" target="_blank">press release</a>.</p>


Wilson Sonsini Advises SetPoint Medical on $80 Million Preferred Stock Financing

<p>On January 6, 2023, Linus Biotechnology received $16 million in venture capital financing for its R&amp;D efforts to establish a method for predicting a child's chances of developing autism using information gleaned from a single piece of hair. Launched in late 2021, the spinout from Mount Sinai Health System said it hopes the funding will help grow its team and enable it to deliver &ldquo;tangible outcomes&rdquo; and the clinical data necessary to demonstrate its test can act as an accurate diagnostic aid for autism&mdash;even as early as just after birth. LinusBio&rsquo;s $16 million Series A round was led by GreatPoint Ventures and Bow Capital and joined by Divergent Investments, Bia-Echo Foundation President Nicole Shanahan, the David Bellet Family Office, Gillian Sandler, and Francisco Partners co-founder Sanford Robertson, among others. Wilson Sonsini Goodrich &amp; Rosati represented LinusBio in the transaction.</p>

<p>According to LinusBio, its StrandDx test for autism spectrum disorder&mdash;which previously received a breakthrough designation from the FDA shortly after LinusBio&rsquo;s 2021 debut&mdash;is designed to assess a person&rsquo;s likelihood of autism by searching for the molecular fingerprints that the environment can leave on the human body. It&rsquo;s the result of research into what&rsquo;s been dubbed the exposome, or a cataloging of the myriad impacts that can follow environmental exposures, such as pollutants, diet, lifestyle factors, and other elements&mdash;collectively summing up the &ldquo;nurture&rdquo; compared to DNA&rsquo;s &ldquo;nature&rdquo; when it comes to making us who we are.</p>

<p>The Wilson Sonsini team that represented LinusBio in the transaction includes<span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-1101" title="Martin J. Waters" href="https://www.wsgr.com/en/people/martin-j-waters.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1101">Martin Waters</a>,<span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-1159" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1159" href="https://www.wsgr.com/en/people/samir-elamrani.html">Samir Elamrani</a>,<span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-1199" title="Zak Vasilyuk" href="https://www.wsgr.com/en/people/zak-vasilyuk.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1199">Zak Vasilyuk</a>, and<span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-17980" title="Bridget Balisy" href="https://www.wsgr.com/en/people/bridget-balisy.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::17980">Bridget Balisy</a>.</p>

<p>For more information, please see news coverage at<span>&nbsp;</span><em><a rel="noopener" href="https://www.fiercebiotech.com/medtech/linusbio-collects-16m-plan-help-diagnose-autism-using-single-strand-hair" target="_blank">Fierce Biotech</a></em>,<span>&nbsp;</span><a rel="noopener" href="https://www.nbcnews.com/science/science-news/new-test-autism-hopes-help-doctors-diagnose-symptoms-show-rcna61081" target="_blank">NBC News</a>, and the<span>&nbsp;</span><em><a rel="noopener" href="https://nypost.com/2023/01/06/groundbreaking-autism-test-detects-disorder-in-single-strand-of-hair/" target="_blank">New York Post</a></em>, among others.</p>


Wilson Sonsini Advises LinusBio on $16 Million Financing to Help Diagnose Autism

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                    <p>On January 17, 2023, Forum Mobility, a zero-emission trucking solutions provider, announced the close of a $15 million Series A funding round and a new $400 million joint venture, both led by a fund sponsored by CBRE Investment Management, to provide comprehensive, zero-emission charging and vehicle solutions to drayage truck fleets and drivers. Homecoming Capital also participated in the Series A funding round and provided $100 million to the joint venture. Wilson Sonsini Goodrich &amp; Rosati advised Forum Mobility on the transactions.<br /><br />&ldquo;We are building a comprehensive charging network for heavy-duty trucks to make the transition to electrification. This network will need a lot of infrastructure and real estate, and CBRE IM is the perfect partner to help us build charging where it's needed most. Fleets can bring their trucks to our network, or we can provide electric trucks bundled with charging. Today we can provide a Class 8 electric truck, and all its charging needs, at a monthly price that's competitive with diesel&mdash;without the emissions," said Matt LeDucq, CEO and co-founder of Forum Mobility. "With new rules coming soon from the California Air Resources Board, we help fleets and drivers looking to make the jump to electric."<br /><br />Forum Mobility&rsquo;s existing seed investors all participated in the Series A, including Obvious Ventures, Edison International, Overture, and Homecoming Capital. New Series A investors include CBRE Investment Management, Elemental Excelerator, and Amazon's Climate Pledge Fund.<br /><br />The Wilson Sonsini team that advised Forum Mobility on the transactions includes<span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-1055" title="Randy Lewis" href="https://www.wsgr.com/en/people/randy-lewis.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1055">Randy Lewis</a>,<span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-1231" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1231" href="https://www.wsgr.com/en/people/scott-a-zimmermann.html">Scott Zimmermann</a>,<span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-1608" title="Matthew A. Bogdan" href="https://www.wsgr.com/en/people/matt-a-bogdan.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1608">Matt Bogdan</a>,<span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-170806" title="Virginia Harris" href="https://www.wsgr.com/en/people/virginia-harris.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::170806">Virginia Harris</a>,<span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-185554" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::185554" href="https://www.wsgr.com/en/people/benjamin-armuth.html">Benjamin Armuth</a>, Kristy Strohm,<span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-186592" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::186592" href="https://www.wsgr.com/en/people/karli-mcconnell.html">Karli McConnell</a>,<span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-1100" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1100" href="https://www.wsgr.com/en/people/kathleen-d-rothman.html">Kathleen Rothman</a>,<span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-1864" title="Joseph Catapano" href="https://www.wsgr.com/en/people/joe-catapano.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1864">Joe Catapano</a>, and<span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-232699" title="Rick Titcomb" href="https://www.wsgr.com/en/people/rick-titcomb.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::232699">Rick Titcomb</a>.</p>
                    <p>For more information, please see Forum Mobility&rsquo;s<span>&nbsp;</span><a rel="noopener" href="https://www.prnewswire.com/news-releases/forum-mobility-and-cbre-investment-management-announce-400-million-joint-venture-and-15-million-series-a-targeting-equitable-electrification-of-heavy-duty-port-transit-301721528.html" target="_blank">news release</a>. To learn more about the company, please see the feature article &ldquo;<a rel="noopener" href="https://obvious.com/ideas/the-clean-quiet-trucking-revolution/" target="_blank">The Clean, Quiet Trucking Revolution</a>.&rdquo; &nbsp;&nbsp;</p>
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Wilson Sonsini Advises Forum Mobility on $15 Million Series A and $400 Million Joint Venture

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                    <p>On January 11, 2023, autonomous vehicle software maker Oxbotica announced that it has raised $140 million in a Series C financing. With this round of financing, Oxbotica has raised approximately $225 million to date. Wilson Sonsini Goodrich &amp; Rosati advised Oxbotica on this transaction and also advised the company on its $47 million<span>&nbsp;</span><a href="https://www.wsgr.com/en/insights/wilson-sonsini-advises-oxbotica-in-dollar47-million-series-b-investment.html">Series B investment</a><span>&nbsp;</span>in January 2021.</p>
                    <p>The investment includes backing from financial and strategic partners in North America, EMEA and APAC, including new investors such as Aioi Nissay Dowa Insurance Co., Ltd and ENEOS Innovation Partners. Current Oxbotica shareholders including bp ventures, BGF, Halma, Hostplus, Kiko Ventures (IP Group), Ocado Group, Tencent, Venture Science and ZF, amongst others, are also re-investing.</p>
                    <p>The proceeds will be used to help expand the company&rsquo;s presence in North America, EMEA and APAC, and to accelerate the deployment of its autonomy operating system where there is an urgent need and the potential to scale, such as agriculture, airports, energy, goods delivery, mining, and shared passenger transportation.</p>
                    <p>The Wilson Sonsini team that advised Oxbotica on the transaction includes:</p>
                    <p><a class="rubycontent-page-link rubycontent-page-183471" title="Beau Buffier" href="https://www.wsgr.com/en/people/beau-buffier.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::183471">Beau Buffier</a><br /><a class="rubycontent-page-link rubycontent-page-1451" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1451" href="https://www.wsgr.com/en/people/adrian-s-broderick.html">Adrian Broderick</a><br /><a class="rubycontent-page-link rubycontent-page-1154" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1154" href="https://www.wsgr.com/en/people/michael-c-labriola.html">Michael Labriola</a><br /><a class="rubycontent-page-link rubycontent-page-218189" title="Michael S. Casey" href="https://www.wsgr.com/en/people/michael-s-casey.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::218189">Mike Casey</a><br /><a class="rubycontent-page-link rubycontent-page-1722" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1722" href="https://www.wsgr.com/en/people/stephen-r-heifetz.html">Stephen Heifetz</a><br /><a class="rubycontent-page-link rubycontent-page-1725" title="Sean Semmler" href="https://www.wsgr.com/en/people/sean-semmler.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1725">Sean Semmler</a><br /><a class="rubycontent-page-link rubycontent-page-218205" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::218205" href="https://www.wsgr.com/en/people/jane-trueper.html">Jane Trueper</a><br /><a class="rubycontent-page-link rubycontent-page-17436" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::17436" href="https://www.wsgr.com/en/people/jose-m-campos.html">Jose Campos</a><br /><a class="rubycontent-page-link rubycontent-page-250570" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::250570" href="https://www.wsgr.com/en/people/rashad-mohammed.html">Rashad Mohammed</a><br /><a class="rubycontent-page-link rubycontent-page-1673" title="Betty K. Rosenbaum" href="https://www.wsgr.com/en/people/betty-k-rosenbaum.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1673">Betty Rosenbaum</a><br /><a class="rubycontent-page-link rubycontent-page-211354" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::211354" href="https://www.wsgr.com/en/people/jahna-hartwig.html">Jahna Hartwig</a></p>
                    <p>For more information, please see Oxbotica&rsquo;s<span>&nbsp;</span><a rel="noopener" href="https://www.oxbotica.com/insight/oxbotica-raises-us140-million-series-c-investment-to-deploy-its-operating-system-for-universal-autonomy-around-the-world/" target="_blank">press release</a>.</p>
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Firm Advises Oxbotica on $140 Million Series C Financing

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                    <p>On January 10, 2023, the third annual Legalweek Leaders in Tech Law Awards honored individuals and organizations for their efforts to advance in innovation over the past year. Wilson Sonsini was named a finalist in the "Tech-Enabled Corporate Department of the Year" and "Enabling Start-Up Success" categories for its creation of Neuron, the firm's proprietary, cloud-based software platform. The winners will be announced during the awards ceremony held at the 2023 Legalweek Conference in New York on March 20, 2023.</p>
                    <p>In addition, Wilson Sonsini chief operating officer<span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-5016" title="Chris Boyd" href="https://www.wsgr.com/en/people/chris-boyd.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::5016">Chris Boyd</a><span>&nbsp;</span>was named a winner in the "Lifetime Achievement" category for his leadership of people, process, and technology innovation at the firm. Chris has led strong teams who have delivered value to the firm and its clients through innovative projects such as the deployment of a new hybrid work model, the creation of a knowledge management program, and the creation of an on-demand learning format.</p>
                    <p><a rel="noopener" href="https://www.law.com/legaltechnews/2023/01/10/announcing-the-2023-legalweek-leaders-in-tech-law-awards-finalists-and-lifetime-achievement-winners/" target="_blank">Click here</a><span>&nbsp;</span>to see the full list of finalists and winners.</p>
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News Articles

Firm Named a Finalist for 2023 Legalweek Leaders in Tech Law Awards, Chris Boyd Recognized for Lifetime Achievement

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                    <p>On January 9, 2023, Carbon Health, a hybrid healthcare company that combines expert care with proprietary technology for easy everyday health, announced that it has received $100 million from CVS Health Ventures, CVS Health&rsquo;s corporate venture capital platform, as part of an initial close of its Series D round. The funding enables the primary care provider to scale its Connective Care model into new geographies, sign new value-based care arrangements, and invest in technology as it aims to be a national leader in primary and urgent care. Wilson Sonsini Goodrich &amp; Rosati advised Carbon Health on the transaction.</p>
                    <p>In addition to the investment, CVS Health will pilot the Carbon Health operating model inside select existing CVS Health locations, leveraging the Carbon Health model and software to help power the patient experience for CVS consumers.</p>
                    <p>The Wilson Sonsini team that advised Carbon Health on the transaction includes:</p>
                    <p><a class="rubycontent-page-link rubycontent-page-1052" title="Yoichiro Taku" href="https://www.wsgr.com/en/people/yokum-taku.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1052">Yokum Taku</a><br /><a class="rubycontent-page-link rubycontent-page-1066" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1066" href="https://www.wsgr.com/en/people/mark-b-baudler.html">Mark Baudler</a><br /><a class="rubycontent-page-link rubycontent-page-1461" title="Melissa Rick" href="https://www.wsgr.com/en/people/melissa-rick.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1461">Melissa Rick</a><br /><a class="rubycontent-page-link rubycontent-page-232301" title="Matthew Quadrini" href="https://www.wsgr.com/en/people/matthew-quadrini.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::232301">Matthew Quadrini</a><br /><a class="rubycontent-page-link rubycontent-page-172151" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::172151" href="https://www.wsgr.com/en/people/annie-giomi.html">Annie Giomi</a><br /><a href="https://www.wsgr.com/en/people/will-andrews.html">Will Andrews</a><br /><a class="rubycontent-page-link rubycontent-page-248894" title="Utsav Lall" href="https://www.wsgr.com/en/people/utsav-lall.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::248894">Utsav Lall</a></p>
                    <p>For more information, please see Carbon Health&rsquo;s<span>&nbsp;</span><a rel="noopener" href="https://www.businesswire.com/news/home/20230109005615/en/Carbon-Health-Secures-Series-D-Investment-to-Drive-Primary-and-Urgent-Care-Expansion" target="_blank">press release</a>.</p>
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Wilson Sonsini Advises Carbon Health on $100 Million Series D Investment Round

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                    <p>On January 5, 2023, gene editing company Metagenomi announced a $100 million Series B extension financing co-led by Novo Holdings A/S, Catalio Capital Management and SymBiosis. The transaction was also supported by new and existing investors, including Leaps by Bayer and Moderna, as well as the initial Series B leads PFM Health Sciences, Farallon Capital Management. Wilson Sonsini Goodrich &amp; Rosati advised Novo on the financing.</p>
                    <p>The additional financing will bring the company&rsquo;s total Series B proceeds to $275 million, which has been provided by more than 30 investment groups. Metagenomi plans to use the proceeds to support its lead therapeutic program from preclinical development into clinical proof-of-concept. The company expects to expand its pipeline and to nominate new therapeutic targets to its proprietary genetic medicines pipeline using its automated discovery engine and versatile gene editing toolbox.</p>
                    <p>Novo Holdings is responsible for managing the assets of Novo Nordisk Foundation, which seeks to improve people&rsquo;s health and the sustainability of society and the planet. The firm invests in life sciences companies and is an asset manager.</p>
                    <p>The Wilson Sonsini team advising on the deal includes<span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-1179" title="Dan R. Koeppen" href="https://www.wsgr.com/en/people/dan-r-koeppen.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1179">Dan Koeppen</a>,<span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-1441" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::1441" href="https://www.wsgr.com/en/people/kassandra-k-castillo.html">Kassandra Castillo</a>, and<span>&nbsp;</span><a class="rubycontent-page-link rubycontent-page-17980" title="Bridget Balisy" href="https://www.wsgr.com/en/people/bridget-balisy.html" data-rubyapp-plugin="rubycontentpagepicker" data-rubyapp-reference="content::17980">Bridget Balisy</a>.</p>
                    <p>For more information, please see the<span>&nbsp;</span><a rel="noopener" href="https://www.businesswire.com/news/home/20230105005244/en/Metagenomi-Closes-Oversubscribed-Series-B-Financing-Totaling-275M-to-Advance-Lead-Therapeutic-Programs-into-Clinical-Development-and-Grow-Genetic-Medicines-Pipeline" target="_blank">press release</a>.</p>
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all insights

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