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Print Edition StoriesThursday, December 17, 2009
Aveo Pharma files for up to $86.3M IPO
By Mass High Tech staff
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Aveo Pharmaceuticals Inc., a Cambridge cancer-focused biotechnology firm, has filed a registration statement for an initial public offering of common stock shares.
The company did not disclose the number of shares, nor the amount of the offering, in its press release. However, the Form S-1 filing with the U.S. Securities and Exchange Commission notes that the offering is based on 82.4 million shares outstanding, as of Nov. 1, 2009, and has a proposed maximum IPO price of $86.3 million.
Aveo (Nasdaq: AVEO) is a late-stage biopharmaceutical company that has collaborated with Eli Lilly, Merck, OSI Pharmaceuticals and Schering-Plough. The company’s lead product is AV-951, a triple VEGF receptor inhibitor. Aveo was founded in 2002 as GenPath Pharmaceuticals Inc. and has since raised more than $100 million in venture funding.
J.P. Morgan Securities Inc. and Morgan Stanley & Co. are the joint book-running managers of the offering, and co-managers include Leerink Swann LLC as the lead and Canaccord Adams Inc.
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