Latham & Watkins Advises Hercules Capital in an Up to US$300 Million Growth Financing for Leading Biotech Beren Therapeutics

Beren Therapeutics P.B.C., the parent company of Mandos LLC and a leader in cholesterol trafficking biology and cyclodextrin-based therapeutics, has announced it has secured US$300 million in combined financing.

The financing includes a US$135 million equity financing alongside up to US$165 million in a strategic financing facility with Hercules Capital, Inc. (NYSE: HTGC) across a senior secured debt and royalty structure. Capital will support Beren’s growth strategies, including the potential US commercial launch for adrabetadex to treat I-NPC and investments in patient access infrastructure and family support resources.

Latham & Watkins LLP advised Hercules Capital in the transaction with a transactional team led by partners Todd Trattner, Hai Pham, and Haim Zaltzman, with associates William Lane and Jake Ibrahim. Advice was also provided on tax matters by partner Eric Cho, with associate Sam Yang.