Surveyor Capital Co-Leads Series B Investment in VelosBio

Choate represented Surveyor Capital (a Citadel company) as co-lead investor in the oversubscribed Series B financing round for VelosBio, a clinical-stage biopharmaceutical company committed to developing novel, first-in-class cancer therapies targeting receptor tyrosine kinase-like orphan receptor 1 (ROR1). The proceeds from the Series B financing will be used to further advance the clinical development of the VelosBio lead antibody-drug conjugate (ADC), VLS-101, and support the continued expansion of its pipeline of ROR1-directed next-generation ADCs and bispecific antibodies.

Surveyor Capital co-led the round with Matrix Capital Management, while additional new equity investors included Adage Capital Management LP, Cormorant Asset Management, Farallon, Foresite Capital, Janus Henderson Investors, Logos Capital, OrbiMed, funds and accounts advised by T. Rowe Price Associates, Inc., Venrock Healthcare Capital Partners, Viking Global Investors, and Wellington Management Company.