Eidos Therapeutics is a clinical stage biopharmaceutical company focused on addressing the large and growing unmet need in diseases caused by transthyretin, or TTR, amyloidosis, or ATTR. The company aims to treat this well-defined family of diseases at their collective source by stabilizing TTR. Eidos’ product candidate, AG10, is an orally administered small molecule designed to potently stabilize TTR, a potentially best-in-class treatment aiming to halt the progression of ATTR diseases.
Founded in 2013, Eidos is led by a team of industry veterans who are responsible for developing over 30 molecules through IND applications and more than 10 approved drugs. Together with patients and physicians, Eidos aims to bring a safe, effective and disease-modifying treatment for ATTR to market as quickly as possible.
Eidos was launched in 2016 with an initial round of Series Seed funding from BridgeBio, its parent company, and an exclusive license of technology from Stanford University, which was developed after years of research supported by Stanford’s SPARK translational research program. Since its launch, Eidos has advanced its development program for ATTR from pre-clinical research to Phase 3 clinical development.
With the support of BridgeBio, the Eidos management team began considering an initial public offering for the Company as a means to access the larger amounts of capital that would be necessary for Eidos to advance AG10 into Phase 2 and Phase 3 clinical trials and, if approved, to commercialize AG10. The company engaged underwriters and kicked off the process for an IPO in early 2018.
Goodwin advised Eidos in all aspects of the IPO, including preparing a registration statement on Form S-1, obtaining clearance on the prospectus from the SEC to launch the IPO, appointing new members of the Eidos Board of Directors in order to comply with NASDAQ and SEC rules applicable to publicly listed companies, and assisting the Company in its adoption of various corporate governance policies and procedures as it began to operate as a public company. In addition, Goodwin provided legal support to enable Eidos to expand its internal team from a startup company with just a handful of employees to a larger organization with finance and accounting capabilities necessary for its operations as a public company and clinical and pre-commercial staffing in preparation for further development and the potential regulatory approval of AG10.
In parallel with the IPO process, Goodwin also represented Eidos in a Series B preferred stock financing, in which the Company raised $64 million from BridgeBio and other investors including to Janus Henderson, Viking Global Investors, Aisling Capital, Perceptive Advisors, Cormorant Asset Management and Amzak Health Investors in March 2018. The Series B financing was followed shortly by the successful completion of Eidos’ IPO in June 2018, in which the Company raised an additional $122 million.