On February 28, 2024, vTv Therapeutics, a clinical-stage biopharmaceutical company, announced that it successfully closed a private placement financing (PIPE) to healthcare-focused institutional investors. Total gross proceeds of the PIPE were $51 million. Wilson Sonsini Goodrich & Rosati advised vTv Therapeutics on patent matters related to the transaction.

The PIPE investors included Samsara BioCapital and the JDRF T1D Fund and involved 464,377 shares of common stock at a price of $11.81 per share and pre-funded warrants for 3,853,997 shares of common stock in lieu of vTv common stock. Funding from the PIPE will be used to fund the Phase 3 study of vTv Therapeutics’ lead product candidate, cadisegliatin, which is expected to initiate in mid-2024.

The Wilson Sonsini team that advised vTv Therapeutics on patent matters related to the transaction included Val Zunic, Uale Taotafa, Michael Hostetler, Katrina Otrubova, Kaia Parenti, and Cassidy Evaristo.

For more information, please see vTv Therapeutics' news release. Additional coverage can be found on the Triad Business Journal.