Snell & Wilmer Represents Traws Pharma in Up to $60 Million PIPE Financing

SAN DIEGO – Snell & Wilmer represented Traws Pharma, Inc., a clinical-stage biopharmaceutical company, in its private investment in public equity (PIPE) financing of up to $60 million with new and existing institutional and accredited investors.

The financing includes approximately $10 million in upfront gross proceeds, along with up to $50 million in additional proceeds tied to milestone-based and long-term warrants. The capital is expected to support the advancement of Traws Pharma’s influenza program, including a planned human challenge trial in the United Kingdom, and help the company achieve key clinical and regulatory milestones.

“We are pleased to announce this financing and the support of existing and new investors,” said Iain Dukes, Chief Executive Officer of Traws Pharma, in a recent press release. “The capital from this financing positions us to advance our influenza program through a human challenge trial in the UK while preserving access to additional capital as we achieve key development milestones.”

Bardia Moayedi and Serge V. Pavluk led the Snell & Wilmer team advising Traws Pharma. The diverse team included Christopher L. Tinen, Eileen Vernon, Anjel Bonilla, and Monique Torres.

Snell & Wilmer’s corporate and securities attorneys have served as counsel to a substantial number of clients ranging from Fortune 100 companies to smaller emerging businesses. Our attorneys have provided sophisticated legal representation to biotech companies, health care and financial institutions, public utilities, homebuilders, transportation companies, restaurant and hospitality providers, athletic complexes, fitness facilities and many other types of businesses. Snell & Wilmer’s venture capital and private equity practice covers multiple aspects of the transactional arena involving public and private companies, including the structuring and execution of majority buyouts and minority investments, acquisitions (including buy- and sell-side deals, as well as negotiated and auction deals), financings (including 144A transactions and PIPEs), going-private transactions, and spin-off transactions. Our venture capital and private equity attorneys advise both domestic and international funds, including venture capital, private equity, hedge, mezzanine, real estate opportunity, fund-of-funds, exchange, and other private investment funds.