We advised the underwriters on the IPO and Nasdaq listing

Davis Polk advised the representatives of the underwriters in connection with the initial public offering of 11,500,000 shares of common stock of Prometheus Biosciences, Inc., including 1,500,000 shares purchased pursuant to the full exercise of the underwriters’ option to purchase additional shares, for gross proceeds of $218.5 million. The common stock is listed on the Nasdaq Global Select Market under the symbol “RXDX.”

Prometheus Biosciences, Inc. is a biotechnology company pioneering a precision medicine approach for the discovery, development and commercialization of novel therapeutic and companion diagnostic products for the treatment and diagnosis of IBD. The company’s precision medicine platform, Prometheus360, combines proprietary bioinformatics discovery methods with one of the world’s largest gastrointestinal bioinformatics databases to identify novel therapeutic targets and develop therapeutic candidates to engage those targets. 

The Davis Polk corporate team included partner Deanna L. Kirkpatrick and associates Hillary A. Coleman and David Giron. The intellectual property and technology transactions team included associates Hilary Smith and Marisa Elena Bannon. The tax team included counsel Alon Gurfinkel and associate Omer Harel. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the New York and London offices.

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