Latham & Watkins Advises Icosavax in Its Upsized Initial Public Offering

Icosavax, Inc. (Nasdaq: ICVX), a biopharmaceutical company leveraging its innovative virus-like particle (VLP) platform technology to develop vaccines against infectious diseases, with an initial focus on life-threatening respiratory diseases, has announced the pricing of its upsized initial public offering of 12,133,333 shares of common stock at an initial public offering price of US$15 per share. All of the shares are being offered by Icosavax. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Icosavax, are expected to be approximately US$182 million. The shares will be traded on the Nasdaq Global Select Market under the ticker symbol ICVX. The offering is expected to close on August 2, 2021, subject to the satisfaction of customary closing conditions. In addition, Icosavax has granted the underwriters a 30-day option to purchase up to an additional 1,819,999 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

Latham & Watkins LLP represents Icosavax in the offering with a corporate deal team led by San Diego partners Cheston Larson and Matt Bush, with associates Alaina Ellis, Julian Brody, Shelby Harrison. Advice was also provided on benefits and compensation matters by San Diego partner Holly Bauer, with Los Angeles associate Vanessa King; on FDA regulatory matters by Washington, D.C. partner Elizabeth Richards and Bay Area counsel Betty Pang, with Washington, D.C. associates Chad Jennings, Margaret Rote and San Diego associate Kierra Murphy; on intellectual property matters by Bay Area/San Diego partner Chris Hazuka, with San Diego associates Robert Yeh and Mike Sweeney; on data privacy matters by Bay Area counsel Heather Deixler; and on tax matters by Century City partner Sam Weiner, with Los Angeles associate Brian Rogers.

The firm also advised Icosavax on its Series B financing.