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.

11-2014

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.”