Pharvaris Announces $70 Million Private Placement Financing
June 20 2023 - 6:50AM
Pharvaris (Nasdaq: PHVS), a clinical-stage company focused on the
development and commercialization of novel oral
bradykinin-B2-receptor antagonists for the treatment of hereditary
angioedema (HAE) and other bradykinin-B2-receptor-mediated
indications, today announced that it has entered into a
subscription agreement relating to the offer and sale of an
aggregate of 6,951,340 ordinary shares of the Company, par value
€0.12 per share (the “Ordinary Shares”), in a private placement
(the “Offering”) to a group of institutional investors, led by
General Atlantic and venBio Partners with participation from Bain
Capital Life Sciences, Foresite Capital, and Venrock Healthcare
Capital Partners, at an offering price of $10.07 per share, for
gross proceeds of approximately $70 million before deducting any
offering-related expenses.
The Offering is expected to close on or about June 21, 2023,
subject to customary closing conditions.
Pharvaris intends to use the net proceeds from the Offering to
fund research and development and product discovery expenses, and
for working capital and general corporate purposes.
The offer and sale of the Ordinary Shares have not been, and
will not be, registered under the Securities Act of 1933, as
amended (the “Securities Act”), or any other securities laws, and
the Ordinary Shares cannot be offered or sold in the United States
except pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act and
any other applicable securities laws. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of any securities, in any state or
jurisdiction in which such offer, solicitation or sale of these
securities would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.
About PharvarisBuilding on its deep-seated
roots in HAE, Pharvaris is a clinical-stage company developing
novel, oral bradykinin-B2-receptor antagonists to treat and prevent
HAE attacks. By directly targeting this clinically proven
therapeutic target with novel small molecules, the Pharvaris team
aspires to offer people with all sub-types of HAE safe, effective,
and convenient alternatives to treat attacks, both on-demand and
prophylactically. The company brings together the best talent in
the industry with deep expertise in rare diseases and HAE. For more
information, visit https://pharvaris.com/.
Forward-Looking StatementsThis press release
contains certain forward-looking statements that involve
substantial risks and uncertainties. All statements contained in
this press release that do not relate to matters of historical fact
should be considered forward-looking statements, including, without
limitation, statements relating to the Offering and the use of
proceeds therefrom, and any statements containing the words
“believe,” “anticipate,” “expect,” “estimate,” “may,” “could,”
“should,” “would,” “will,” “intend” and similar expressions. These
forward-looking statements are based on management’s current
expectations, are neither promises nor guarantees, and involve
known and unknown risks, uncertainties and other important factors
that may cause Pharvaris’ actual results, performance or
achievements to be materially different from its expectations
expressed or implied by the forward-looking statements. Such risks
include but are not limited to the following: market factors and
closing conditions relating to the Offering and the other factors
described under the headings “Cautionary Statement Regarding
Forward-Looking Statements” and “Item 3. Key Information—D. Risk
Factors” in our Annual Report on Form 20-F and other periodic
filings with the U.S. Securities and Exchange Commission. These and
other important factors could cause actual results to differ
materially from those indicated by the forward-looking statements
made in this press release. Any such forward-looking statements
represent management’s estimates as of the date of this press
release. New risks and uncertainties may emerge from time to time,
and it is not possible to predict all risks and uncertainties.
While Pharvaris may elect to update such forward-looking statements
at some point in the future, Pharvaris disclaims any obligation to
do so, even if subsequent events cause its views to change. These
forward-looking statements should not be relied upon as
representing Pharvaris’ views as of any date subsequent to the date
of this press release.
Contact
Maggie Beller
Head of Public Relations and Communications
Maggie.beller@pharvaris.com
Pharvaris NV (NASDAQ:PHVS)
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