Tobin Sullivan is a versatile corporate and securities attorney who counsels growth equity and venture capital investors and growing life sciences and technology companies, ranging from start-ups to pre-IPO companies to global public companies, on a wide range of transactional and corporate law matters. With extensive experience in venture capital and late-stage, cross-over financings for life sciences, biotech and healthIT companies, he is described by clients as a highly responsive, strategic thinker who balances his strong market knowledge with practical business advice.
Tobin provides general corporate guidance on a variety of business matters, including venture capital and growth equity financings, national and cross-border mergers and acquisitions, corporate governance matters, public company reporting, and SEC compliance. His clients have included Bain Capital Life Sciences, Surveyor Capital (a Citadel company), Andreesen Horowitz, Sectoral Asset Management, Transformation Capital, Pegasystems, Forrester Research, Riverside Partners, Summit Partners, and M/C Partners.
- Massachusetts Super Lawyers Rising Star
Venture Capital & Private Equity Engagements:
- Bain Capital Life Sciences’ growth equity investments in biotech companies, including:
- Arcutis Biotherapeutics (Nasdaq: ARQT) - $95 million Series C financing
- Aptinyx (Nasdaq: APTX) - $70 million Series B financing
- Atea Pharmaceuticals - $215 million Series D financing
- ViaCyte - $80 million Series D financing
- JenaValve Technology - $50 million private financing
- Transformation Capital’s growth equity investments in Health IT and healthcare services companies.
- Surveyor Capital’s cross-over and venture capital investments in life sciences companies, including:
VelosBio - $137 million Series B financing
Allogene (Nasdaq: ALLO) - $120 million private financing
Zentalis Pharmaceuticals (Nasdaq: ZNTL) - $85 million Series C financing
NextCure (Nasdaq: NXTC) - $93 million Series B financing
Annexon Biosciences (Nasdaq: ANNX) - $100m Series D and $75 million Series C financings
SpringWorks Therapeutics (Nasdaq: SWTX) - $125 million Series B financing
Satsuma Therapeutics (Nasdaq: STSA) - $62 million Series B financing
AVROBIO (Nasdaq: AVRO) - $60 million Series B financing
Gossamer Bio (Nasdaq: GOSS) - $230 million Series B financing
Sutro Biopharma (Nasdaq: STRO) - $84 million Series E financing
Akouos (Nasdaq: AKUS) – $105 million Series B financing
ElevateBio - $170 million Series B financing
Praxis Precision Medicines - $110 million Series C financing
Pliant Therapeutics - $100 million Series C financing
Bolt Biotherapeutics - $93.5 million Series C financing
Athira Pharmaceuticals - $85 million Series B financing
Spruce Biosciences - $88 million Series B financing
Oncorus - $80 million Series B financing
- Andreessen Horowitz’s venture capital investment in Ribbon Health.
M/C Partners’ carve-out acquisition of Ascend Technologies from West Monroe Partners.
Riverside Partners’ majority investment in 3Play Media.
- Sectoral Asset Management’s growth equity investments in therapeutics companies, including:
- Apellis Pharmaceuticals (Nasdaq: APLS) - $60 million Series E financing
- Pipeline Therapeutics - $30 million Series B financing
Business & Technology Engagements:
- Pegasystems Inc.’s (Nasdaq: PEGA) $600 million 144A convertible note financing.
- General counsel to satellite broadband company, including advising on its $1+ billion equity financing led by SoftBank.
- Datawatch Corporation’s (Nasdaq: DWCH) $176 million merger with Altair Engineering (Nasdaq: ALTR).
- Examity Inc.’s $90 million growth equity investment from private equity firm Great Hill Partners.
- BioRx’s $350 million sale to Diplomat Pharmacy (NYSE: DPLO).
- Cyteir Therapeutics’ equity financing led by Venrock Partners, Celgene, Lightstone Ventures, and DROIA Oncology Venture.
- Cosman Medical’s sale to Boston Scientific (NYSE: BSX).
- FP Resources USA Inc.’s take-private acquisition of The First Marblehead Corporation (NYSE: FMD).
- Datawatch Corporation’s (NASDAQ: DWCH) acquisition of Angoss Software Corporation.
Publications and Presentations
Professional and Community Involvement
- Corporate pro bono work for the Center for Women & Enterprise
- Pro bono clients from the Lawyer’s Clearinghouse and Massachusetts Legal Clinic for the Homeless
- Member of the Boston Bar and American Bar Associations
- Member of Choate’s Hiring Committee
Education & Credentials
- Northeastern University School of Law
- JD, 2012
- Staff Member, Northeastern University Law Journal
- Cornell University
- BS, 2007
In the inaugural episode of the Choate Business Insights podcast series, John Pitfield, Dan Riley, and Tobin Sullivan discuss private equity investments in public companies through Private Investment in Public Equity (PIPE) transactions, including the current trends and structure of PIPE transactions.
Choate represented Surveyor Capital (a Citadel company) as co-lead investor in the oversubscribed Series B financing round for VelosBio, a clinical-stage biopharmaceutical company committed to developing novel, first-in-class cancer therapies targeting receptor tyrosine kinase-like orphan receptor 1.
Just two months after the Paycheck Protection Program (“PPP”) began taking applications, the House and Senate have passed the Paycheck Protection Program Flexibility Act of 2020 (the “Flexibility Act”) aimed at smoothing the way for more borrowers to take advantage of PPP loans and loan forgiveness.
In the face of deteriorating financial conditions for a business, directors should revisit the fiduciary duties they owe to the business and be particularly attuned to the question of which parties are the proper beneficiaries of those duties.
The Small Business Administration (SBA) continued its incremental rollout of guidance for borrowers under the Paycheck Protection Program (PPP), with two interim final rules issued on the eve of Memorial Day Weekend.