On January 29, 2021, Catabasis Pharmaceuticals, Inc., a biopharmaceutical company, announced that it has acquired Quellis Biosciences Inc., a privately-held emerging biopharmaceutical company focused on discovering best-in-class new molecules to treat serious rare diseases. Concurrent with the acquisition of Quellis, Catabasis entered into a definitive agreement for the sale of Series X convertible preferred stock in a private placement to a group of institutional accredited investors led by Perceptive Advisors. The private placement is expected to result in gross proceeds to Catabasis of approximately $110 million before deducting placement agent and other offering expenses. Catabasis expects to use the proceeds from the private placement primarily to enable the completion of IND-enabling studies, Phase 1a, and Phase 1b/2 clinical trials for the lead program QLS-215 in hereditary angioedema, a rare, debilitating and potentially life-threatening disease.

The WilmerHale team representing Catabasis Pharmaceuticals was led by Rosemary Reilly, Joseph Conahan, Judd Abramson, Stephanie Leopold, Meghan Fay and Jenna Weissman, and included Glenn Pollner, Julie Hogan Rodgers, Kim Wethly, Meghan Walsh and Ben Kelsey.