Ar­riVent files for IPO, rais­ing funds as it takes PhI­II can­cer drug through tri­al

Penn­syl­va­nia on­col­o­gy drug­mak­er Ar­riVent Bio­phar­ma has filed for an ini­tial pub­lic of­fer­ing, mak­ing it the sec­ond biotech to re­veal its plans for a Nas­daq list­ing this year so far.

The late-stage start­up, which raised a $155 mil­lion Se­ries B round last March, said it plans to list as $AVBP and is work­ing with Gold­man Sachs, Jef­feries, Cit­i­group and Life Sci Cap­i­tal on the Wall Street de­but.

The move comes a few days af­ter an­oth­er biotech with a drug in piv­otal tri­als, blad­der can­cer-fo­cused CG On­col­o­gy, filed for its own IPO. The in­dus­try ap­pears ready for a bet­ter year of IPOs thanks to like­ly in­ter­est rate cuts and a string of big-name ac­qui­si­tions in De­cem­ber.

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