Morrison & Foerster represented Ally Bridge Group, a global life-science dedicated investment group, as lead investor in connection with two leading healthcare sector investments: an equity financing totaling US$108 million in medical device company Mainstay Medical Holdings plc, and a US$68 million growth equity investment in Syapse®, a leading real-world evidence company.
The financing into Mainstay Medical holdings plc, announced on February 16, 2021, was co-led by Ally Bridge Group and Sofinnova Partners, and also included a large, global medical device company. Key existing investors who participated in the financing include Sofinnova Partners (Capital Fund), KCK Group and Fountain Healthcare Partners.
The growth equity investment in Syapse®, announced on February 2, 2021, was led by Ally Bridge Group, with Northpond Ventures and certain existing investors also participating in the financing.
The cross-border, cross-practice MoFo team for Mainstay Medical comprised of corporate partner and co-head of Asia private equity Thomas Chou in Hong Kong, corporate associate James Lee, technology transactions partner Aaron Rubin and associate Alex Siegel in San Francisco, finance partner Yemi Tépé and associate Charlyn Lim in Singapore, Dom Bozzetti in New York and associate Yuan Xia in San Francisco for equity compensation issues, patent partner Janet Xiao in Palo Alto, CFIUS of counsel Panagiotis Bayz and associate Jonathan Babcock in Washington D.C.
The team for Syapse® consisted of Partner Thomas Chou and associate Katrina Tsoi in Hong Kong, corporate associate James Lee and technology transactions associate Alex Siegel in San Francisco, litigation partner Bethany Hills and associate Daniel Kagan in New York, finance partner Dario Avram in San Francisco and associate Nicholas De La Cruz in Denver, litigation of counsel Melissa Crespo, CFIUS of counsel Panagiotis Bayz and associate Jonathan Babcock in Washington D.C, and patent partner Janet Xiao.