Osborne Clarke advised Hadean Ventures and Sunstone Life Science Ventures on their investment in the second significant funding round of Step Pharma, a biotechnology company focused on the development of a new class of CTPS1-targeted nucleotide synthesis inhibitors that may offer an improved orally-administered treatment for cancer and autoimmune diseases.
Hadean Ventures and Sunstone Life Science Ventures are two European investment funds specializing in the life sciences sector, including pharmaceuticals, medical technology, diagnostics and digital health.
This new round of financing, totaling €35 million (Series B) from Hadean Ventures, Sunstone Life Science Ventures as well as existing investors, will enable Step Pharma to support its ambitions in the pre-clinical and clinical phases of the development of its pharmaceutical solutions.
This is the second major round for Step Pharma, which was founded in May 2014 and is now backed by the genetic diseases institute Imagine, Kurma Partners, the British industrialist Sygnature Discovery, Idinvest, bpifrance and Inserm Tranfert Initiative.
Osborne Clarke's team consisted of:
M&A/Corporate and lead: Catherine Olive, partner, Cyrille d'Amécourt, senior associate and Anaël Hadji, associate.
Life science & Healthcare: Thomas Devred, partner
Alerion advised Step Pharma and the initial investors with Pierre-Olivier Brouard, partner, Benoît Deramoudt and Tom Ha, associates.
