The Goodwin Life Sciences team advised ProQR Therapeutics N.V. (Nasdaq: PRQR) on the closing of its previously announced underwritten public offering of 19,940,072 ordinary shares at a public offering price of $3.50 per share, which includes an additional 1,940,072 shares issued upon the partial exercise by the underwriters of their option to purchase additional shares, for total gross proceeds of approximately $69.8 million, before deducting underwriting discounts and commissions and other offering expenses payable by ProQR. All of the shares in the offering were sold by ProQR.
The team also advised ProQR on its concurrent private placement of 3,523,538 ordinary shares to Eli Lilly and Company, in a separately negotiated transaction, at a price per share equal to the public offering price. The total gross proceeds of the private placement were approximately $12.3 million.
ProQR is dedicated to changing lives through the creation of transformative RNA therapies. ProQR is pioneering a next-generation RNA technology called Axiomer", which uses a cell's own editing machinery called ADAR to make specific single nucleotide edits in RNA to reverse a mutation or modulate protein expression and could potentially yield a new class of medicines for both rare and prevalent diseases with unmet need. Based on its unique proprietary RNA repair platform technologies ProQR is growing its pipeline with patients and loved ones in mind.
The Goodwin team was led by Mitch Bloom, Adam Johnson, Karin Yoo, Connor McMillan, James Flynn and Evan De Ycaza, and included Susan Lee (FDA), Matt Wetzel (Healthcare), Dan Karelitz (Tax), Jackie Klosek (Data, Privacy and Cybersecurity), Tim Worden, Lucy Sharples and Luke Nauth (EU/UK Regulatory), and Brad Weber (Opinions).
For more information on the deal, please read the press release.