Davis Polk advised the representatives of the initial purchasers in connection with a Rule 144A offering by Coherus BioSciences, Inc. of $200 million aggregate principal amount of its 1.500% convertible senior subordinated notes due 2026. Davis Polk also advised the counterparties to capped call transactions entered into by Coherus in connection with the offering.

Headquartered in Redwood City, California, Coherus is a commercial-stage biotherapeutics company focused on the global biosimilar market. Coherus’s goal is to become a global leader in the biosimilar market by leveraging its team’s collective expertise in key areas such as process science, analytical characterization, protein production and clinical-regulatory development.

The Davis Polk corporate team included partner Alan F. Denenberg, counsel Jeffrey Gould and associates Daniel Fox and Joseph G. Marano. The equity derivatives team included partner Ray Ibrahim and associates Katharine O’Banion and Danielle Forni. Partner Frank J. Azzopardi and associate Jennifer Leather provided intellectual property advice. Members of the Davis Polk team are based in the Northern California and New York offices.