Arvinas Holding, a preclinical biotech developing protein degradation therapies for advanced cancers, raised $120 million by offering 7.5 million shares at $16, the high end of the $14 to $16 range. The company raised $20 million more than it had planned by pricing at the high end and offering 0.83 million additional shares.
Insiders had intended to purchase $40 million of the IPO (33% of the deal).
Arvinas plans to list on the Nasdaq under the symbol ARVN. Goldman Sachs, Citi and Piper Jaffray acted as lead managers on the deal.
