Acrivon Therapeutics, a Phase 2 biotech developing precision oncology therapies, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
Through its proprietary precision medicine platform, AP3, Acrivon Therapeutics plans to utilize the creation of drug-specific OncoSignature companion diagnostics to develop its pipeline of oncology drug candidates. Acrivon's lead candidate, ACR-368, is a selective small molecule inhibitor targeting CHK1 and CHK2 in a potentially registrational Phase 2 trial across multiple tumor types, focusing on treatments for platinum-resistant ovarian, endometrial, and bladder cancers. Its ACR-368 OncoSignature test, which has not yet obtained regulatory approval, has been evaluated in two pretreatment tumor biopsy studies collected from patients with ovarian cancer treated with ACR-368 in past Phase 2 clinical trials conducted by Eli Lilly and Company and at the National Cancer Institute.
The Watertown, MA-based company was founded in 2018 and plans to list on the Nasdaq under the symbol ACRV. Acrivon Therapeutics filed confidentially on August 12, 2022. Morgan Stanley, Jefferies, Cowen, and Piper Sandler are the joint bookrunners on the deal. No pricing terms were disclosed.
