Ropes & Gray advised TPG Sixth Street Partners on the financing round
Caris Life Sciences®, a leading innovator in molecular science focused on fulfilling the promise of precision medicine through quality and innovation, has raised $150 million in growth capital in the form of senior secured debt and convertible notes from TPG Sixth Street Partners (“TSSP”), the global credit investment platform with $25 billion in assets under management. Caris will use the proceeds, in part, to continue development of Next Generation Profiling™ to analyze whole genome, whole transcriptome and the complete cancer proteome with mature clinical outcomes to deliver proprietary offerings for more precise treatment recommendations.
Caris Molecular Intelligence has grown into an industry leader and is recognized as having the most comprehensive tumor profiling approach, with technologies that assess DNA, RNA and protein expression. Caris has been sponsored and funded exclusively by David D. Halbert, and the growth capital investment by TSSP is a significant milestone as it represents the first external capital to be raised by the Company since 2011.
Caris intends to use the proceeds from this financing to launch Next Generation Profiling offerings, expand the commercial organization, increase clinical and R&D laboratory capacity, enhance biopharmaceutical business development capabilities, pursue patent enforcement and other strategic corporate initiatives.
Ropes & Gray advised TPG Sixth Street Partners with a team including Alyson Gal (Picture) and Jason Freedman.
Law Firms: Ropes & Gray;
Clients: TPG Sixth Street Partners;