DLA Piper advises TwoStep Therapeutics on financing for targeted therapies of solid tumors

DLA Piper advised TwoStep Therapeutics, Inc., a biotechnology company advancing multi-specific targeted therapies for solid tumors, in its US$62.5 million Series A financing. The funding will support the company’s mission to address challenges in solid-tumor drug development.

Concurrently, the company received clearance from the US Food and Drug Administration for its Investigational New Drug (IND) application for TS-104, its lead multi-specific peptide-drug conjugate. The IND clearance enables the company to initiate a first-in-human Phase 1 clinical trial of TS-104, with patient enrollment expected to begin later this year.

The DLA Piper deal team was led by Partner Josh Seidenfeld (Palo Alto), who co-leads the firm’s Emerging Growth and Venture Capital practice and leads the firm’s Northern California Corporate and Securities practice, and included Associates Thomas Heiser (Miami), Rachel Robichaux, and Jordan Cohen (both Palo Alto).

DLA Piper’s Emerging Growth and Venture Capital practice includes more than 200 lawyers who provide strategic counsel to emerging companies and venture capital firms in high-growth industries, including technology, healthcare, life sciences, and financial services. Over the last three years, DLA Piper has completed more than 2,100 financings globally, totaling more than US$80 billion. The firm is ranked among the most active global law firms for venture capital deal volume, according to PitchBook.

With more than 400 life sciences professionals worldwide, DLA Piper’s global Life Sciences team delivers seamless, tailored solutions across every stage of the business lifecycle. Our team includes medical doctors, PhDs, and industry veterans who bring extensive scientific and legal knowledge and experience to every challenge. We combine modern insights with an expansive geographic footprint to help clients anticipate risk, maximize opportunity, and stay ahead in a rapidly evolving landscape. Whether navigating complex regulations or defending innovation, we work as one—offering bold, agile strategies and value-added counsel that keep science on your side.