Stephen B. Thau

Stephen B. Thau


Northern Virginia, (202) 887-1571
Palo Alto, (650) 813-5640


Harvard University (A.B., 1989)
Stanford Law School (J.D., 1994)

Bar Admissions

District of Columbia

Stephen Thau is a corporate partner whose practice focuses on the representation of life science, medical device, health IT, software, clean tech and other technology companies in transactional matters, including public and private financings, licensing, collaborations and strategic alliances, and mergers and acquisitions. He also represents venture capital and investment banking firms in public and private financing transactions. He has represented companies and investors in over 100 venture capital and debt financing transactions, numerous public offerings, and dozens of public and private M&A transactions and strategic collaboration agreements.

Mr. Thau is a member of the Board of Tech Council of Maryland, the leading technology and life science association in that state. He is a frequent speaker on venture capital financings and served on the faculty at the 2005 and 2007 Emerging Entrepreneurs workshops at Stanford University.

Mr. Thau re-joined Morrison & Foerster in 2008 after having practiced corporate law for ten years at Venture Law Group and Heller Ehrman LLP. Mr. Thau began his legal practice as a litigator at Morrison & Foerster, focusing on securities and intellectual property. He also served as a law clerk to the Hon. Vaughn R. Walker in the United States District Court in the Northern District of California. He graduated Order of the Coif from Stanford Law School, where he was managing editor of the Stanford Law Review, and graduated magna cum laude from Harvard College in Biology.

Catalyst Biosciences, Inc. IPO and Reverse Merger
Represented Catalyst Biosciences, Inc. in its $20.7 million public offering and reverse merger with Targacept.

Hansen Medical Licensing Agreement Amendment
Advising Hansen Medical, a global leader in flexible robotics for medical application, in $20 million license agreement amendment with Intuitive Surgical.

Threshold Pharmaceuticals Licensing Agreement
Advising Threshold Pharmaceuticals, the leading developer of hypoxia-activated prodrug cancer therapies, in its $525 million license and co-development agreement with Merck KGaA.

Hansen Medical Licensing Agreement
Advising Hansen Medical, a global leader in flexible robotics for medical application, in a strategic licensing agreement with Philips, a wholly owned subsidiary, allowing Philips to develop and commercialize the non-robotic applications of Hansen's Fiber Optic Shape Sensing and Localization technology.  Hansen received $29 million in upfront payments and may receive potential future payments up to $78 million.

Osteologix Licensing Agreement
Advising Osteologix in an exclusive licensing agreement with Les Laboratories Servier in which Osteologix will receive up front and milestone payments of up to  €12 million, and pending regulatory approval, up to  €30 million on minimum royalty payments to be credited against royalties on product sales.

Catalyst Bioscience, Inc. Licensing Agreement
Represented Catalyst Bioscience, Inc., a leading developer of next generation biopharmaceuticals, in an exclusive worldwide research and license agreement with Centocor Research & Development, Inc., a leading developer of biologic therapies.

Catalyst Bioscience Collaboration with Wyeth Pharmaceuticals
Advising Catalyst Biosciences on an exclusive worldwide collaboration with Wyeth Pharmaceuticals, a division of Wyeth (NYSE: WYE) for Factor VII products, pursuant to which Catalyst received an up front payment of $21 million and could receive additional payments of up to $500 million plus royalties on product sales.

True Materials, Inc. $25-million Acquisition
Represented True Materials, Inc., a San Francisco Bay Area biotech startup developing digitally encoded microparticle technology for improving nucleic acid and protein analysis, in its $25-million acquisition by microarray technology manufacturer Affymetrix.

Adeza Biomedical $450-million Acquisition by Cytyc
Represented Adeza Biomedical Corporation, a developer and manufacturer of proprietary products for women's healthcare market, in $450-million cash acquisition by Cytyc, a diagnostic and medical device company that designs, develops, manufactures, and markets innovative and clinically effective diagnostic and surgical products.

Baxano Inc. $30-million Financing
Advising Baxano Inc. in its $30-million Series C financing, and in its $20-million Series B financing.

Representation of DURECT Corporation
Represented DURECT Corporation in all of its public financing transactions, including its $92.4 million initial public offering, $37 million follow-on offering, $60 million 144A convertible debt offering and $10 million registered direct offering.

Threshold Pharmaceuticals IPO, Follow-on Offering, and PIPE Financing
Represented Threshold Pharmaceuticals in all of its public financing transactions, including its $42.7 million initial public offering, $65.4 million follow-on offering, $18 million and $35 million PIPE transactions, $30 million registered direct offering and $15 million ATM facility.

Catalyst Biosciences, Inc. $40-million Financing
Represented Catalyst Biosciences, Inc. in its $40.4-million Series C financing.

Altair Therapeutics Financing
Represented Altair Therapeutics, a leader in respiratory disease therapy, in its Series A financing and spin-off from Isis Pharmaceuticals.

LJL Biosystems $349-million Acquisition
Represented LJL Biosystems in its $349-million acquisition by Molecular Devices. Both companies supply/supplied high-performance bioanalytical measurement systems to improve drug discovery research.

Three Arch Partners $22-million Financing
Represented Three Arch Partners in a $22-million Series B financing of Voyage Medical, a developer of atrial fibrillation treatment for heart conditions.

Visiogen Inc. $24-million Financing
Represented Visiogen, an ophthalmic medical device company specializing in the development of new vision alternatives for patients with cataracts, in its $24-million Series D financing.

Thomas, McNerney & Partners $30.9-million Financing
Advising Thomas, McNerney & Partners, Inerwest Ventures and Sofinova Ventures in the $30.9 million Series B financing of Cebix, Inc.

Ultragenyx Pharmaceutical, Inc. $45-million Financing
Represented Ultragenyx Pharmaceutical, Inc., a company focused on developing therapeutics for rare diseases, in its $45 million Series A financing.

Stephen Thau has been recognized as a "Life Sciences Star" by LMG Life Sciences 2016. He is ranked in Chambers USA 2015–2016, Legal 500 US 2013–2016 and Best Lawyers in America 2013. He is also listed as one of 25 leading biotech lawyers in California 2011 by the Daily Journal and was recognized as a “Life Sciences Star” within LMG Life Sciences 2014.

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