Wilson Sonsini Represents New Enterprise Associates (NEA) and Versant Ventures on 858 Therapeutics’ $60 Million Series A Financing
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On September 22, 2021, 858 Therapeutics announced the completion of a $60 million Series A financing led by founding investor Versant Ventures, with participation from NEA, Cormorant Asset Management, and Logos Capital. Wilson Sonsini Goodrich & Rosati represented NEA and Versant Ventures on the transaction.
858’s lead programs focus on the emerging fields of RNA modulation and innate immune pathways in cancer and expand upon insights from over 10 years of work by the founders at predecessor companies. Proceeds from the fundraise are being used to develop a portfolio of small molecules directed against novel therapeutic targets in oncology, including proteins that regulate RNA and the innate immune response. The Series A proceeds will allow the company to enter the clinic with its lead candidates that have potential to treat cancers that are resistant to current therapies, expand its team to about 40 people within the next 18 months, and engage leading academic scientists who have made important contributions in the field and can bring specialized know-how to the company.
For more information, please see 858’s press release.