Pharvaris, a Dutch Phase 1 biotech developing small molecule therapies for rare diseases, announced terms for its IPO on Monday.
The Leiden, Netherlands-based company plans to raise $125 million by offering 7 million shares at a price range of $17 to $19. At the midpoint of the proposed range, Pharvaris would command a fully diluted market value of $576 million.
The company is focused on the development of innovative therapies for rare diseases with significant unmet need, initially focusing on angioedema and other bradykinin-mediated diseases. Its first molecule, PHA121, is a novel, small molecule bradykinin B2-receptor antagonist for the treatment of hereditary angioedema. In the Phase 1 completed trials to date, PHA121 was well tolerated and orally bioavailable.
Pharvaris was founded in 2015 and plans to list on the Nasdaq under the symbol PHVS. Morgan Stanley, BofA Securities and SVB Leerink are the joint bookrunners on the deal.
