Biopharmaceutical Company Raises Capital to Propel Clinical Trials and Innovative Research
Acrivon Therapeutics (ACRV), a pioneer in precision oncology medicines, announced a significant milestone today. The company has finalized a securities purchase agreement, securing an oversubscribed private investment of $130 million. This financing, led by new and existing investors, underscores confidence in Acrivon’s transformative approach to cancer treatment.
The agreement includes the issuance of 8,235,000 shares of common stock at $8.50 per share and pre-funded warrants for up to 7,060,000 shares. With gross proceeds estimated at $130 million, Acrivon aims to advance its lead clinical asset, ACR-368, and accelerate its preclinical pipeline, including the promising ACR-2316 WEE1/PKMYT1 inhibitor.
Peter Blume-Jensen, M.D., Ph.D., Acrivon’s CEO, expressed gratitude to investors for their support. The funding will drive the development of innovative therapies, leverage proprietary data through AI and machine learning, and broaden the application of the Acrivon Predictive Precision Proteomics (AP3) platform.
The private placement, facilitated by Jefferies, signals a significant step forward for Acrivon as it continues to revolutionize precision medicine and advance cancer care for patients worldwide.
Read original press release:here
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