Goodwin Advised Tenpoint Therapeutics on Securing $235 Million Through Series B Stock Financing and Credit Facility
Goodwin Advised Tenpoint Therapeutics on Securing $235 Million Through Series B Stock Financing and Credit Facility
The Goodwin Life Sciences team advised Tenpoint Therapeutics, Ltd. on securing $235 million through the successful close of its Series B preferred stock financing and a credit facility. The Company raised $85 million in Series B financing led by Janus Henderson, EQT Nexus, Hillhouse and British Business Bank. Existing investors also participating include EQT Life Sciences, Sofinnova Partners, F-Prime, Eight Roads, Qiming Venture Partners USA, AdBio and Wille. In addition to the Series B, Tenpoint entered into a $150 million non-dilutive senior secured term loan facility with Hercules Capital.
Tenpoint Therapeutics Ltd. is a global biotechnology company focused on the commercialization of YUVEZZI™ (carbachol and brimonidine tartrate ophthalmic solution) 2.75% / 0.1%, the first and only dual agent eye drop for the treatment of presbyopia, a condition that affects nearly 128 million people in the US and approximately 2 billion people globally. By understanding real-world needs and partnering with eye care professionals, Tenpoint is working to bring innovation to the aging eye.
The Goodwin team was led by David Mardle (Partner/ Co-chair, UK), Matthew Lee (Associate), Kingsley Taft (Partner/ Co-chair/ Life Sciences), Heidi McNally (Associate), Harriet Worthington (Associate), Gaspard du Chaffaut (Associate), Olly Watt (Trainee/ Solicitor), Kevin Grumberg (Partner), Richard Garvan (Counsel), Sunnie Zhao (Associate), and Sarah Mackin (Paralegal) with invaluable assistance from Lindsay Thomas (Counsel), Ella Bedecarre (Associate), Simon Fulbrook (Partner), Nadim Islam(Associate), and Damian Molineus (Associate).
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