DLA Piper advises Iovance in the offering of US$211 million of shares of common stock

DLA Piper advised Iovance Biotherapeutics, Inc. (Iovance), a biotechnology company focused on innovating, developing and delivering novel polyclonal tumor infiltrating lymphocyte (TIL) therapies for patients with cancer, in the offering of US$211 million of shares of its common stock in an underwritten public offering that closed on February 22, 2024. Jefferies LLC acted as lead bookrunning manager, and Barclays Capital Inc. and Goldman Sachs & Co. LLC acted as bookrunning managers for the offering.

Iovance will use the proceeds from this offering to support the commercial launch of AMTAGVI™, the first FDA-approved T cell therapy for a solid tumor indication; to fund ongoing clinical programs including its Non-Small Cell Lung Cancer Treatment registrational study, IOV-LUN-202, and its frontline advanced melanoma Phase 3 confirmatory trial, TILVANCE-301; to continue the development of its pipeline candidates, and for other general corporate purposes.

“We were pleased to advise Iovance on their public offering which will support the commercial launch of their recently approved product, as well as their efforts in a wide array of industry-leading projects that are essential for the company’s growth. It was a pleasure to bring together our life sciences experience to this transaction,” said Emilio Ragosa, the DLA Piper partner who led the deal team. 

In addition to Ragosa (Short Hills), the DLA Piper deal team included corporate partner Patrick O’Malley (San Diego) and corporate associates Jordyn Giannone and Mandeep Kalra (both in New York), Nicholas Luciano and Brian Sunberg (Short Hills), as well as FDA regulatory partner Bethany Hills (New York).