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

A capital markets deal team advises the underwriters on the clinical-stage biotechnology company’s offering.

August 10, 2021

Eliem Therapeutics, Inc., a clinical-stage biotechnology company focused on developing novel therapies for neuronal excitability disorders to address unmet needs in chronic pain, psychiatry, epilepsy, and other disorders of the peripheral and central nervous systems, has announced the pricing of its initial public offering of 6,400,000 shares of common stock at a public offering price of US$12.50 per share. All of the shares are being offered by Eliem. Eliem has granted the underwriters a 30-day option to purchase up to an additional 960,000 shares of common stock at the initial public offering price. The gross proceeds of the offering, before deducting underwriting discounts and commissions, and other offering expenses payable by Eliem, are expected to be US$80 million, excluding any exercise of the underwriters’ option to purchase additional shares of common stock.

Latham & Watkins LLP represents the underwriters in the offering with a capital markets deal team led by Bay Area partners Brian Cuneo and Phillip Stoup, with Bay Area associates Nimrah Khan and Kevin Cergol. Advice was also provided on intellectual property matters by Bay Area partner Chris Hazuka, with Bay Area associate Stephanie Blij; on regulatory matters by Washington, D.C. partner Elizabeth Richards and Bay Area counsel Betty Pang, with Washington, D.C. associate Meryl Bartlett; on tax matters by Bay Area partner Grace Lee, with Bay Area associate Jessica Chen; and on benefit and compensation matters by Bay Area partner Jay Metz, with Chicago associate Samantha Voutyras.

 
 
Notice: We appreciate your interest in Latham & Watkins. If your inquiry relates to a legal matter and you are not already a current client of the firm, please do not transmit any confidential information to us. Before taking on a representation, we must determine whether we are in a position to assist you and agree on the terms and conditions of engagement with you. Until we have completed such steps, we will not be deemed to have a lawyer-client relationship with you, and will have no duty to keep confidential the information we receive from you. Thank you for your understanding.