Biotech Company Achoagen Taps Latham for $72 Million IPO

SAN FRANCISCO — Achoagen, a South San Francisco-based biopharmaceutical company, tapped a team from Latham & Watkins for counsel on its $72 million initial public offering. A team from Davis Polk advised the underwriters.

The clinical stage company, which develops antibacterial medicines to treat multidrug-resistant infections, jumped nearly 20 percent in its debut after pricing at the low end of its range. It closed at $14.30. The deal marks the eighth IPO to emerge from California so far this year.

The Silicon Valley-based Latham & Watkins team advising Achoagen was led by partner Mark Roeder. It also included corporate associates Brian Cuneo, Zachary Hale and Lilly Fang; employee benefits and compensation partner James Metz and associate Ashley Wagner in Silicon Valley; tax partner Grace Chen and associate Una Au in San Francisco; and intellectual property partner Judith Hasko and associates Kate Hillier and Arielle Singh in Silicon Valley.

The Davis Polk team advising underwriters Credit Suisse and Cowen & Co. was led by Bruce Dallas.

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