Latham & Watkins Advises the Underwriters in Silverback Therapeutics’ Initial Public Offering

Silverback Therapeutics, Inc. (Silverback), a clinical-stage biopharmaceutical company leveraging its proprietary ImmunoTAC technology platform to develop systemically delivered, tissue targeted therapeutics for the treatment of cancer, chronic viral infections, and other serious diseases, has announced the pricing of its initial public offering of 11,500,000 shares of its common stock at a price to the public of US$21.00 per share. The gross proceeds to Silverback from the offering, before deducting the underwriting discounts and commissions and offering expenses, are expected to be US$241.5 million. All of the shares are being offered by Silverback. In addition, Silverback has granted the underwriters a 30-day option to purchase up to an additional 1,725,000 shares of its common stock at the initial public offering price less the underwriting discounts and commissions. 

Latham & Watkins LLP represents the underwriters in the transaction with a life sciences capital markets team led by Bay Area partner Brian Cuneo, with Bay Area associates Phillip Stoup, Raul Gonzalez and Taimi Jacobson. Advice was also provide on intellectual property matters by Bay Area/San Diego partner Christopher Hazuka, with San Diego associate Robert Yeh; on regulatory matters by Washington, D.C. partner Elizabeth Richards and Bay Area counsel Betty Pang, with Washington, D.C. associates Barrett Tenbarge, Alyssa Lattner and Julie Shin; on tax matters by Bay Area partner Grace Lee, with Washington, D.C. associate Amy Feinberg; and on benefits and compensation matters by Bay Area partner James Metz.