DLA Piper advised Iovance Biotherapeutics in offering US$172.5 million of common stock shares

DLA Piper advised Iovance Biotherapeutics in offering US$172.5 million of common stock shares

The proceeds will be used to fund various projects

DLA Piper has advised Iovance Biotherapeutics in offering US$172.5 million of shares of its common stock, which includes the exercise of the underwriters’ option, less discounts, commissions, and expenses, in an underwritten public offering.

While the shares were sold by Iovance, Goldman Sachs & Co and Jefferies LLC, were the joint lead book-running managers.

(Lovance is a biotechnology company focused on innovating, developing, and delivering novel polyclonal tumor-infiltrating lymphocyte (TIL) therapies for cancer patients).

It will use the proceeds to fund various projects, including funding the commercial launch of Lifileucel; continuing to prepare the Iovance Cell Therapy Center, the company’s manufacturing facility in Philadelphia; supporting ongoing clinical programs including its NSCLC registration-directed study and frontline advanced melanoma Phase 3 confirmatory trial; expand the combination of TIL and immune checkpoint inhibitors in ICI naïve patient cohorts.

Emilio Ragosa, a partner, who led the deal team at DLA Piper remarked, “We are pleased to advise Iovance on their public offering, which will provide them with the ability to pursue a variety of projects critical to the company’s continued growth. On behalf of our deal team, it was a pleasure to bring together our life sciences experience and skillset to this transaction.”

In addition to Ragosa (Short Hills), the team included corporate partner Patrick O’Malley (San Diego), corporate associates Bianca LaCaille, Rebecca Paley-Williams, and Sarah Cooper (Seattle), FDA regulatory partners Bethany Hills (New York) and Christopher Mikson, M.D. (Philadelphia).