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

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.