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Aveo Pharmaceuticals Inc. has closed a public offering, announced last week, bringing in net proceeds of about $104.3 million.
The Cambridge cancer therapeutics company sold a total of 6.4 million shares of common stock, with 5.75 million shares offered up front and 602,119 shares sold through an underwriter over-allotment option.
J.P. Morgan Securities LLC and Jefferies & Company Inc. served as joint book-running managers and underwriters of the offering. Canaccord Genuity Inc. served as co-lead manager.
Aveo (Nasdaq: AVEO) announced in May an exclusive license deal with Centocor Ortho Biotech Inc. for global development and commercialization of Aveo’s antibodies targeting the Recepteur d’Origine Nantais (RON) receptor. The agreement was expected to bring the Cambridge company an initial $15 million, and up to $540 million in milestone payments.
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