Transaction Case Studies
RAPID FINANCING PROCESS LED TO OVERSUBSCRIBED CROSSOVER FINANCING
Situation Assessment
- C4 Therapeutics is a private biotech with a novel targeted protein
degradation platform and pipeline of pre-IND therapeutics in oncology - C4 Therapeutics was seeking funding to advance the current pipeline to proof-of-concept and position the company for a successful IPO
- At the time of engagement, C4 Therapeutics had received a term sheet for Perceptive Advisors for a $115M+ Series B round
- LW was engaged to prepare marketing materials, advise on the financing, build out the syndicate, and coordinate the closing
Key Activities
- Prepared high-impact marketing materials distilling complicated science
into an understandable management presentation and teaser - Conducted targeted outreach campaign to top-tier global and regional life-science focused investors to build out the syndicate in April 2020
- Hosted a fully virtual roadshow with investors and led investors through virtual due diligence process
- Conducted financial analysis to guide the deal sizing and pricing
- Provided extensive guidance on deal dynamics and worked in collaboration with legal teams to drive financing to close
Successful Outcome
- C4 Therapeutics successfully raised an upsized $150M Series B financing co-led by Perceptive Advisors and Cobro Opportunity Fund with a global syndicate of leading life sciences investors
- In volatile funding environment, Locust Walk was integral to guiding investors and the Company to a successful closing of the financing
