Stephen Thau is a partner in Orrick’s Technology Companies Group. He is a strategic advisor to life sciences and technology companies, guiding them through various milestones of their life cycle.

Stephen’s practice focuses on the representation of life science, medical device, health IT, and other technology companies in transactional matters, including public and private financings, licensing, collaborations and strategic alliances, and mergers and acquisitions. He also represents venture capital and investment banking firms in public and private financing transactions.

Stephen has served as a member of the Board of Tech Council of Maryland, the leading technology and life science association in that state, and of BayBio, Northern California’s leading life sciences association. He is a frequent speaker on venture capital financings and served on the faculty at the 2005 and 2007 Emerging Entrepreneurs workshops at Stanford University.

Prior to joining Orrick, Stephen was a partner at Morrison & Foerster, Venture Law Group and Heller Ehrman. He began his legal practice as a litigator, focusing on securities and intellectual property.  He also served as a law clerk to the Hon. Vaughn R. Walker in the United States District Court in the Northern District of California.  Stephen graduated Order of the Coif from Stanford Law School, where he was managing editor of the Stanford Law Review, and graduated magna cum laude from Harvard College in Biology.

  • Selected Private Company Equity Financings

    • Aledade, Inc, in its Series A and Series B financings
    • Astellas Pharma in the formation and financing of Mitokyne and option to acquire the company
    • Astellas Pharma in the formation and financing of Kanyos Bio, Inc., a company created through Astellas’ collaboration with Anokion SA.
    • ReVent Medical in its $3.5 million Series B financing
    • Velocity Pharmaceuticals in the formation and financing of Tigercat Pharma, Spitfire and Corsair
    • DNAnexus in its $15 million Series C and $15 million Series D financings
    • Thomas, McNerney & Partners in the $17 million Series B financing of SGBiofules
    • Taiga Biotechnologies in its $3 million Series B financing
    • Thomas, McNerney & Partners, Inerwest Ventures and Sofinova Ventures in the $30.9 million Series B financing of Cebix, Inc.
    • Ultragenyx Pharmaceuticals, Inc. in its $45 million Series A financing
    • Baxano, Inc. in its $30 million Series C financing and in its $20 million Series B financing
    • The Column Group, Prospect Venture Partners and Rho Ventures in the $51 million Series B financing of NGM Biopharmaceuticals 
    • Catalyst Biosciences in its $40 million Series C financing
    • Altair Therapeutics in its spin-out from Isis Pharmaceuticals, and in its Series A financing

    Selected Public Company Financings

    • AmpliPhi Biosciences Corporation in $13 million PIPE transaction
    • DURECT Corporation in all of its public financing transactions, including its $92.4 million initial public offering, $37 million follow-on offering, $60 million 144A convertible debt offering and $10 million registered direct offering
    • Threshold Pharmaceuticals in all of its public financing transactions, including its $42.7 million initial public offering, $65.4 million follow-on offering, $18 million and $35 million PIPE transactions, $30 million registered direct offering and $15 million ATM facility
    • The underwriters in Cardica Inc.’s $37 million initial public offering

    Selected Mergers and Acquisitions

    • Catalyst Biosciences in its reverse merger with Targacept to become a public company
    • Baxano, Inc. in its acquisition by TranS1
    • ICU Medical in sale of its Orbit product line to Ypsomed AG
    • Biocodex, Inc. in its purchase of Totect product from Apricus Biosciences
    • CNS Therapeutics, Inc. in its approximately $100 million sale to the Mallinckrodt division of Covidien
    • InSound Medical, Inc. in its acquisition by Phonak AG for $75 million plus milestones and earnout payments
    • True Materials in its $25 million cash acquisition by Affymetrix 
    • DURECT Corporation in its acquisition of Southern BioSystems, Inc.
    • Amnestix, Inc. in its acquisition by Sygnis AG
    • Adeza Biomedical in its $450 million cash acquisition by Cytyc

    Selected Licensing and Collaborations

    • Catalyst Biosciences, a leading developer of next generation biopharmaceuticals, in its collaboration with Isu Abxis, a Korean biologics manufacturing and development company, to develop Catalyst’s next-generation Factor IX development candidate for the prevention and treatment of bleeding in hemophilia B patients
    • Hansen Medical, a global leader in flexible robotics for medical application, in $20 million license agreement amendment with Intuitive Surgical
    • Threshold Pharmaceuticals, the leading developer of hypoxia- activated prodrug cancer therapies, in its $525 million license and co-development agreement with Merck KGaA
    • Hansen Medical in a strategic licensing agreement with Philips, allowing Philips to develop and commercialize the non-robotic applications of Hansen's Fiber Optic Shape Sensing and Localization technology. Hansen received $29 million in upfront payments and may receive potential future payments up to $78 million
    • Osteologix in an exclusive licensing agreement with Les Laboratories Servier in which Osteologix would receive up front and milestone payments of up to €12 million, and pending regulatory approval, up to €30 million on minimum royalty payments to be credited against royalties on product sales
    • Catalyst Bioscience, Inc., in an exclusive worldwide research and license agreement with Centocor Research & Development, Inc., a leading developer of biologic therapies
    • Catalyst Biosciences on an exclusive worldwide collaboration with Wyeth Pharmaceuticals, a division of Wyeth (NYSE: WYE) for Factor VII products, pursuant to which Catalyst received an up front payment of $21 million and could receive additional payments of up to $500 million plus royalties on product sales
    • Catalyst Biosciences on an exclusive worldwide research and license agreement with MedImmune for novel engineered proteases, which includes potential payments up to $195 million
    • Amunix Inc. in license arrangements and the formation of Versartis, Inc.