Most Effective Dealmakers 2022: Rachael Bushey
In 2021, Rachael Bushey led one of the most significant IPOs in the biotech sector, representing Century Therapeutics, a biotech innovator founded in 2019 to fight cancer. The aggregate gross proceeds from the offering, which closed in June 2021, were approximately $242.7 million.
June 18, 2022 at 11:25 AM
3 minute read
Q&ABy The Legal Intelligencer
Rachael Bushey of Troutman Pepper Hamilton Sanders. Courtesy photo
Rachael Bushey, Troutman Pepper Hamilton Sanders
In 2021, Bushey led one of the most significant IPOs in the biotech sector, representing Century Therapeutics, a biotech innovator founded in 2019 to fight cancer. The aggregate gross proceeds from the offering, which closed in June 2021, were approximately $242.7 million.
Bushey also led a team advising Renovacor, an early stage biotechnology company pioneering AAV-based gene therapies for devastating cardiovascular and neurodegenerative diseases, on its combination with Chardan Healthcare Acquisition Corp, a SPAC, creating a newly formed merger subsidiary of CHAQ to be named "Renovacor, Inc." Concurrently with the merger, certain investors provided an additional $30 million common stock private placement investment in public equity (PIPE) financing, also advised by Bushey and her team. The total deal value of $95.1 million includes the $30 million from the concurrent PIPE closing. The merger, new investors, and financing positioned Renovacor to advance its rare disease gene therapy program into phase I/II clinical trials. This transaction closed in September 2021.
Many anticipated deals were put on pause during the pandemic. How did you overcome these obstacles?
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