International law firm Taylor Wessing has advised its longstanding biotech client Verona Pharma plc on a UK and US placing/pipe investment to raise gross proceeds of £44.7m (US$63.3m). The cornerstone investors in the placing were specialist healthcare focused funds Vivo Capital, OrbiMed and Edmond de Rothschild Investment Partners.

Verona is an AIM listed, UK-based clinical stage biopharmaceutical company focused on the development of innovative prescription medicines to treat respiratory diseases with significant unmet medical needs, such as chronic obstructive pulmonary disease (COPD), asthma and cystic fibrosis.

Will Belcher, corporate finance partner who led the Taylor Wessing team on the deal, said:

“Verona’s recent fundraising shows the confidence in Verona’s pipeline and its management team, and we look forward to working with the company in the next stage of its development.”

The Taylor Wessing team was led by London corporate finance partner, Will Belcher assisted by associates James Homan and Charlotte Chambers.