VC-backed Pharvaris goes public

Pharvaris, a drug developer, has raised about $165.4 million for its IPO after pricing its over 8.2 million shares at $20 per share.

Pharvaris, a drug developer, has raised about $165.4 million for its IPO after pricing its over 8.2 million shares at $20 per share. The stock began trading February 5, 2021 on the NASDAQ under the ticker symbol “PHVS.” Morgan Stanley, BofA Securities, and SVB Leerink are the lead underwriters. Pharvaris’ pre-IPO backers include Viking Global Investors and General Atlantic.

PRESS RELEASE

ZUG, Switzerland, Feb. 04, 2021 (GLOBE NEWSWIRE) — Pharvaris N.V. (“Pharvaris”), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of innovative therapies, including novel, small molecule bradykinin-B2-receptor antagonists for the treatment of hereditary angioedema (HAE) and other bradykinin-B2-receptor-mediated indications, today announced the pricing of its upsized initial public offering of 8,270,500 of its ordinary shares at an initial public offering price of $20.00 per share, for total gross proceeds of approximately $165.4 million. In addition, Pharvaris has granted the underwriters a 30-day over-allotment option to purchase up to an additional 1,240,575 ordinary shares at the public offering price less underwriting discounts and commissions. The ordinary shares are expected to begin trading on the Nasdaq Global Select Market on February 5, 2021 under the symbol “PHVS.”

Morgan Stanley, BofA Securities, and SVB Leerink are acting as joint book-running managers of the offering and Oppenheimer & Co. and Kempen & Co are acting as co-managers. A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on February 4, 2021. The offering will be made only by means of a prospectus. A copy of the preliminary prospectus relating to the offering may be obtained by contacting Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; BofA Securities, Inc., Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255; or, by email at dg.prospectus_requests@bofa.com; or SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by telephone at (800) 808-7525 ext. 6105 or by email at syndicate@svbleerink.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Pharvaris N.V.
Pharvaris (Nasdaq: PHVS) is a clinical-stage biopharmaceutical 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 HAE and other bradykinin-mediated diseases. Pharvaris brings together executives with a breadth of expertise across pharmaceutical development and rare disorders, including HAE.