WilmerHale advised Kalaris Therapeutics, Inc. (Kalaris), a clinical-stage biopharmaceutical company focused on developing and commercializing treatments for prevalent retinal diseases, in a private placement of 4,200,000 shares of common stock at $10.00 per share and, in lieu of common stock for certain investors, pre-funded warrants to purchase up to an aggregate of 800,000 shares of common stock at $9.9999 per share. Kalaris raised approximately $50 million in aggregate gross proceeds before deducting placement agent fees and other offering expenses. The private placement included participation from both new and existing investors, including entities associated with ADAR1 Capital Management, Coastlands Capital, Invus, RTW Investments, Samsara BioCapital, Woodline Partners LP, and others. The Securities Purchase Agreement was signed on December 17, 2025, and the transaction closed on December 22, 2025.

The WilmerHale team was led by Scott Lunin and included Katharine Patterson, Michaela Rosen, and Caroline Estey, with assistance from Heidi Treiber and Mark Devine.