Foley Represents TCGX and Omega Funds in $207.5M Series C Financing for Aviceda Therapeutics

Foley & Lardner LLP represented TCG Crossover (TCGX) as a lead investor and advised fellow lead investor Omega funds on intellectual property matters in the $207.5 million Series C financing for Aviceda Therapeutics (Aviceda).

Bernard Davitian of Omega Funds and Chen Yu, M.D., M.B.A., of TCGX have joined Aviceda’s Board of Directors. Additional investors in the funding round included Enavate Sciences, Jeito Capital, Blue Owl Healthcare Opportunities, Longitude Capital, OrbiMed, Logos Capital, Marshall Wace, Catalio Capital Management, funds managed by abrdn Inc., and Digitalis Ventures.

Aviceda is a private, clinical-stage biotech company focused on developing next-generation immunomodulators with a proprietary High Affinity Ligands of Siglecs (HALOS™) nanotechnology platform to alleviate chronic, non-resolving inflammation. Proceeds will support the ongoing Phase 2b/3 and planned pivotal Phase 3 clinical trial for AVD-104 in geographic atrophy, a vision-threatening condition secondary to advanced age-related macular degeneration, and the expansion into other ophthalmic indications.

TCGX is an investment firm focused on innovative biotech companies. They invest in visionary entrepreneurs leveraging recent scientific breakthroughs to develop transformative medicines. With offices in Palo Alto, San Francisco, and New York City, TCGX has global capabilities and have supported companies in North America, Europe, and China.

Omega Funds is a leading international venture capital firm that creates and invests in life sciences companies that target our world’s most urgent medical needs. Omega focuses on supporting companies through value inflection points across the full arc of innovation, from formation through clinical and commercial milestones. Omega portfolio companies have brought 50 products to market in multiple therapeutic areas, including oncology, rare diseases, precision medicine and others. 

The Foley team was led by partners Louis Lehot and Brian Wheeler and included partners Antoinette Konski, Nathan Beaver, Casey Knapp, and Rishi Sodhi, as well as associates Saige Gallop, Robin Zhang, and Sarina Rogers.