Snell & Wilmer Advises Lomond Therapeutics in $20M Private Investment Financing and Addition of Two New Investors

SAN DIEGO – Snell & Wilmer represented client Lomond Therapeutics Holdings, Inc. (“Lomond Therapeutics”), a clinical-stage biotechnology company dedicated to discovering and developing potentially best-in-class and first-in-class medicines for the treatment of hematological malignancies, in its addition of two new investors, Yosemite Capital and Qatar’s sovereign wealth fund, QIA Investments, coincident with a second and third closing, and the raising of an additional $20 million private investment in public equity (PIPE) financing.

This transaction provides the additional resources necessary to advance Lomond Therapeutics’ potentially best-in-class or first-in-class programs, lomonitinib, lonitoclax and menin inhibitor, through clinical development. Lomonitinib is currently being evaluated in a Phase 1b clinical trial in patients with mutated FLT3 relapsed refractory AML. Lomond Therapeutics enrolls CLL and selected lymphoma patients in a Phase 1b clinical trial to evaluate lonitoclax, a potentially first-in-class oral targeted selective B-cell lymphoma-2 (“BCL-2”) inhibitor.

“We are delighted to expand the funding syndicate with the addition of these top tier investors,” said Lomond Therapeutics co-founder and Chief Executive Officer Iain Dukes M.A. D.Phil., in a recent press release.

Bardia Moayedi and Christopher L. Tinen led the Snell & Wilmer team advising Lomond Therapeutics in the deal. The diverse team included Sarah Hibbard, Caitlin M. Murphey, Dana Ontiveros, Sarah Richards, Jason Gersting, Chris Franich, Brett W. Johnson, P.C., Troy Galan, William Kastin, P.C., and paralegal Scott Drake.

Snell & Wilmer’s corporate and securities attorneys have served as counsel to a substantial number of clients ranging from Fortune 100 companies to smaller emerging businesses. Our attorneys have provided sophisticated legal representation to biotech companies, health care and financial institutions, public utilities, homebuilders, transportation companies, restaurant and hospitality providers, athletic complexes, fitness facilities and many other types of businesses. Snell & Wilmer’s venture capital and private equity practice covers multiple aspects of the transactional arena involving public and private companies, including the structuring and execution of majority buyouts and minority investments, acquisitions (including buy- and sell-side deals, as well as negotiated and auction deals), financings (including 144A transactions and PIPEs), going-private transactions, and spin-off transactions. Our venture capital and private equity attorneys advise both domestic and international funds, including venture capital, private equity, hedge, mezzanine, real estate opportunity, fund-of-funds, exchange, and other private investment funds.