AstraZeneca participates in Series A financing in Swiss biotech company SixPeaks Bio AG

SixPeaks Bio AG has secured USD30 million in Series A financing led by founding investor Versant Ventures and a strategic collaboration with AstraZeneca. Over the next two years, AstraZeneca is committing up to USD80 million in capital including upfront and near-term payments. In exchange, AstraZeneca received an option to acquire SixPeaks Bio at an agreed-upon price at the time of submission of an IND application for the biotech's lead antibody.

Lenz & Staehelin acted as Swiss counsel to AstraZeneca.