Pharvaris 

Initial Public Offering

USD 165 million
Co-Manager
;

Pharvaris

Kempen & Co acted as Co-Manager in Pharvaris’ Initial Public Offering on the Nasdaq Global Select Market, successfully raising USD 165 million

Transaction highlights

  • Initial Public Offering on the Nasdaq Global Market comprising 8,270,500 ordinary shares, upsized from 6,950,000 ordinary shares offered at launch, thus representing a 19% increase
  • The deal priced at USD 20.00 per share which is above the IPO price range of USD 17.00 – 19.00 
  • Total gross proceeds amount to USD 165 million and may further increase to USD 190 million in case the 30-day over-allotment option to purchase up to an additional 1,240,575 ordinary shares at the public offering price is exercised by the underwriters in full
  • The proceeds will primarily be used to progress Pharvaris’ product candidates PHVS416 and PHVS719 in the clinic, product discovery, and general corporate purposes
  • Pharvaris’ IPO marks the sixth IPO on Nasdaq in which Kempen & Co acted as an underwriter and the second US Nasdaq IPO Kempen & Co executed for a Dutch company
  • In 2021 year to date, Kempen & Co has already executed 3 transactions for European Life Sciences companies 

Company description

Pharvaris is 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 and other bradykinin-B2-receptor-mediated indications. The Company is incorporated in the Netherlands and has its operating headquarters in Zug, Switzerland. 

Background Kempen & Co Life Sciences & Healthcare

In the last twelve months, Kempen & Co has successfully completed a large number of transactions in its Life Sciences & Healthcare franchise. Recent transactions include:

  • Passive Bookrunner in the USD 518 million US Public Offering by CureVac
  • Lead Manager in the USD 120 million US Public Offering by Merus 
  • Joint Bookrunner in the SEK 564 million Capital Increase by Cantargia
  • Sole Financial Adviser in the sale of Galapagos’ service operation, Fidelta, to Selvita for a total consideration of €31.2 million
  • Placement Agent in Investinor’s Secondary Sell-Down of c. 4 million shares in Calliditas Therapeutics
  • Lead Manager in the USD 85.0 million Nasdaq Initial Public Offering by Galecto
  • Joint Bookrunner in the €31.0 million Capital Increase by Sensorion
  • Bookrunner in the USD 245 million Nasdaq Initial Public Offering by Curevac
  • Co-Manager in the USD 49.0 million US Public Offering by Centogene
  • Joint Bookrunner in the SEK 1.11 billion Capital Increase by Hansa Biopharma
  • Joint Bookrunner in the CHF 80.2 million Capital Increase by Molecular Partners
  • Co-Manager in the USD 690 million US Public Offering by Ascendis Pharma
  • Financial advisor in Immatics’ business combination with Arya Sciences Acquisition Corp., thereby becoming a Nasdaq listed company and securing USD 253 million
  • Joint Global Coordinator and Joint Bookrunner in the €61.8 million Initial Public Offering by Hyloris Pharmaceuticals
  • Joint Bookrunner in the €20.0 million Capital Increase by Oryzon Genomics
  • Joint Global Coordinator and Joint Bookrunner in the SEK 487 million Capital Increase by BioInvent
  • Joint Global Coordinator and Joint Bookrunner in the c. SEK 400 million Capital Increase by Immunovia
  • Co-Manager in the USD 862 million Global Offering by argenx
  • Joint Bookrunner in the SEK 1.41 billion Capital Increase by Oncopeptides
  • Co-Manager in the USD 154 million Global Offering of DBV Therapeutics

Contact

Jan De Kerpel
Kathrin Erfurth

Transactions