Paris, Friday 5th February - Kurma Partners a key European player in the financing of innovation in healthcare and biotechnology are proud to announce the successful IPO of one for which Kurma Partners acted as founder investor together with Life Sciences Partners (LSP) in 2016 : Pharvaris.
Pharvaris N.V. (“Pharvaris”), 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 (HAE) and other bradykinin-B2-receptor-mediated indications, today announced the pricing of its upsized initial public offering of 8,270,500 of its ordinary shares at an initial public offering price of $20.00 per share, for total gross proceeds of approximately $165.4 million. In addition, Pharvaris has granted the underwriters a 30-day over-allotment option to purchase up to an additional 1,240,575 ordinary shares at the public offering price less underwriting discounts and commissions. The ordinary shares are expected to begin trading on the Nasdaq Global Select Market on February 5, 2021 under the symbol "PHVS."
Creating or participating to the creation of biotech start-ups is one of the main pillars of Kurma’s investment strategy and the team has launched during the last 10 years more than 15 companies among them Pharvaris (NL), Dynacure (France), DNAscript (France), ImCheck Therapeutics (France), Corlieve Therapeutics (France), Vico therapeutics (NL), Tacalyx (Germany) and other non-disclosed projects. Pharvaris is the second US Nasdaq IPO of a Kurma Biofund II portfolio companies in the last 12 months after Orphazyme in September 2020.