Fieldfisher advises Link Biologics on ground-breaking co-equity fundraising for dry eye disease program

Fieldfisher, a leading European law firm, has advised biotechnology company, Link Biologics, on their co-equity fund raising for their innovative dry eye disease (DED) program in partnership with Théa Open Innovation. This transaction represents a significant milestone in the field of biologic drugs, particularly for an early-stage company like Link Biologics. 

Link Biologics is a preclinical biotechnology company that has developed Link_TSG6, a protein biological drug that treats life-limiting effects of inflammatory and degenerative disorders. The company's lead development program for Link_TSG6 is dry eye disease (DED), an inflammatory condition affecting approximately 350 million people worldwide, causing persistent eye irritation, blurred vision, pain, and decreased quality of life.  
 
Théa Open Innovation (TOI) is a sister company of Laboratoires Théa, a pharmaceutical company dedicated to Ophthalmology. TOI partners with startups, biotech companies, and universities to help bring the most cutting-edge eye care products to the market. 

Link Biologics was spun out from the University of Manchester in 2021. Partner Sam Jardine, who leads the firm's relationship with Link Biologics and several other university spin-outs, said:

"Congratulations to Link Biologics on competing this deal. It has been very rewarding for us to support Link Biologics on its journey from its spin-out in 2021, and to assist Reuben and the team achieve this key milestone in the company's lifecycle."
 
The Fieldfisher team, was led by Co-head of Life Sciences, Janita Good, alongside Solicitor Joshua Cronin on the fundraising aspects and included Commercial IP Director Vicky Reinhardt. 
 
Commenting on the transaction, Janita Good, Co-head of Life Sciences at Fieldfisher said: "It’s extraordinary to see an early-stage company attract such substantial interest in its biologic drug, especially one with potential applications beyond DED, including in ophthalmology and osteoarthritis. We’re really pleased to have advised on this transaction and secure a great outcome for our clients. We wish Link Biologics and Théa Open Innovation all the best in their innovative journey"