Pharvaris N.V. (NASDAQ: PHVS) has announced the pricing of an underwritten offering of (i) 11,125,000 of its ordinary shares at a price of US$24.00 per-share and (ii) to one investor, pre-funded warrants to purchase 1,375,000 ordinary shares at a price of US$23.99 per pre-funded warrant, which represents the per-share public offering price for the ordinary shares less the US$0.01 per-share exercise price for each such pre-funded warrant.  The gross proceeds to Pharvaris from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately US$300 million. All shares and pre-funded warrants in the offering are to be sold by Pharvaris.  Morgan Stanley and Leerink Partners are acting as joint book-running managers.  The offering is expected to close on or about December 8, 2023, subject to satisfaction of customary closing conditions.  Pharvaris N.V. is a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for rare diseases with significant unmet need, initially focused on angioedema and other bradykinin-mediated diseases.

Sidley represented the underwriters in the offering with a team led by partners Frank Rahmani (Capital Markets, Emerging Companies and Venture Capital) and Sam Gandhi (Capital Markets).  The Sidley team also included associates Nicole Garrett, Kostian Ciko, and Emily Chazen (Capital Markets); partner Tom Duley (Technology and Life Sciences Transactions); and senior counsel Emily Marden and associate Eliza Lawless (Food, Drug and Medical Device).~~Pharvaris N.V. (NASDAQ: PHVS) has announced the pricing of an underwritten offering of (i) 11,125,000 of its ordinary shares at a price of US$24.00 per-share and (ii) to one investor, pre-funded warrants to purchase 1,375,000 ordinary shares at a price of US$23.99 per pre-funded warrant, which represents the per-share public offering price for the ordinary shares less the US$0.01 per-share exercise price for each such pre-funded warrant.  The gross proceeds to Pharvaris from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately US$300 million. All shares and pre-funded warrants in the offering are to be sold by Pharvaris.  Morgan Stanley and Leerink Partners are acting as joint book-running managers.  The offering is expected to close on or about December 8, 2023, subject to satisfaction of customary closing conditions.  Pharvaris N.V. is a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for rare diseases with significant unmet need, initially focused on angioedema and other bradykinin-mediated diseases.

Sidley represented the underwriters in the offering with a team led by partners Frank Rahmani (Capital Markets, Emerging Companies and Venture Capital) and Sam Gandhi (Capital Markets).  The Sidley team also included associates Nicole Garrett, Kostian Ciko, and Emily Chazen (Capital Markets); partner Tom Duley (Technology and Life Sciences Transactions); and senior counsel Emily Marden and associate Eliza Lawless (Food, Drug and Medical Device).