Bain Capital Life Sciences Leads $215M Financing in Atea Pharmaceuticals

Choate represented Bain Capital Life Sciences as lead investor in the $215 million Series D financing in Atea Pharmaceuticals. Atea is a biopharmaceutical company engaged in the discovery and development of next-generation therapeutics for severe human viral infections, including COVID-19. This Series D financing will enable Atea to run a phase 2 trial of its oral purine nucleotide prodrug (AT-527) in people hospitalized with moderate cases of COVID-19.

The financing also included new investors RA Capital Management, Perceptive Advisors, Rock Springs Capital, Adage Capital Management, funds and accounts managed by T. Rowe Price Associates, Inc., Redmile Group, and Omega Funds. Existing Atea investors, including Morningside Ventures, Cormorant Asset Management, Ally Bridge Group, and Sectoral Asset Management, as well as other investors also participated in the financing.