The offering was oversubscribed by both new and existing investors and was priced at a 32% premium, concurrently with the announcement of positive top-line data from its CHAPTER-1 Phase 2 study for the treatment of hereditary angioedema (HAE). Pharvaris intends to use the proceeds from this offering primarily to fund R&D and product discovery expenses for its clinical and preclinical research and development activities and for working capital and general corporate purposes. Pharvaris' ordinary shares are listed on NASDAQ (PHVS).
About Pharvaris
Pharvaris is a clinical-stage company focused on bringing oral bradykinin B2-receptor antagonists to patients. By targeting this clinically proven therapeutic target with novel small molecules, the Pharvaris team is advancing new alternatives to injected therapies for all sub-types of hereditary angioedema (HAE) and other bradykinin B2-receptor-mediated indications.
"It has been a pleasure working alongside Kirkland & Ellis in this transaction. To see a client doing so well in raising new capital in this challenging economic climate makes the hard work more than worthwhile", said Paul van der Bijl who led the team.
Next to Paul and Nina Kielman, who led the tax work-stream, the team consisted of Eline van Marle, Leanne Meurs, Mariëlle van Nimwegen, Daan Hagelstein and Joppe Schoute.