A rare biotech IPO lands on Nas­daq, boost­ed by RA Cap­i­tal and a for­mer Eli Lil­ly drug

An­oth­er biotech backed by RA Cap­i­tal Man­age­ment is mak­ing the Nas­daq jump Tues­day, brav­ing the cold bear mar­ket wa­ters.

Acrivon Ther­a­peu­tics priced its IPO at $12.50 a share, be­low the ex­pect­ed range of $16 to $18, rough­ly a year af­ter it put to­geth­er its last fi­nanc­ing round — and less than 18 months af­ter launch­ing out of stealth. In to­tal, the IPO brought the com­pa­ny just short of a nine-fig­ure raise, com­ing in at $99.4 mil­lion.

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