Bird & Bird LLP advises British biotech start-up, Ziarco, on its $33.1 million Series B round financing led by New Enterprise Associates, Inc. (NEA) and Lundbeckfond Ventures.

11 November 2014

Ziarco focusses on creating innovative drugs and therapeutics to treat inflammatory skin diseases. The proceeds from the financing will be used to generate clinical proof-of-concept data in patients for its lead compounds for the treatment of atopic dermatitis and psoriasis.

NEA and Lundbeckfond Ventures co-led the round, which was over-subscribed. Other participating investors included Amgen Ventures and existing investors BVF Partners and Pfizer Venture Investments.

The transaction, which involved a US-to-UK reincorporation and a related corporate reorganisation, involved five law firms including Ropes & Gray (US and English law advice to NEA & Lundbeckfond), Joseph & Cohen (BVF), DLA Piper (US and English law advice Pfizer Venture Investments) and Cooley and Bird & Bird (US and English law advice, respectively, to Ziarco).

The Bird & Bird team was led by Angus Miln, partner in the London Corporate Group, assisted by senior associate Helen Down.

Mike Yeadon, Ph.D., President and Chief Executive Officer of Ziarco said: “It was genuinely enjoyable to work with Angus and Helen. Their venture capital expertise, pragmatic advice and 24/7 support and guidance were invaluable in helping us to complete a complex transaction in a tight timeframe.”