John Houston, Arvinas CEO

Arv­inas gets $350M boost from in­vestors to ex­tend run­way in­to 2027

Arv­inas’ $350 mil­lion pri­vate place­ment will help bankroll the pro­tein de­grad­er biotech as it nears com­ple­tion of its first Phase III study with part­ner Pfiz­er.

The Con­necti­cut PRO­TAC com­pa­ny is large­ly known for its lead­ing role in the field of pro­tein de­graders and a $1 bil­lion up­front deal with Pfiz­er in 2021. The pro­ceeds are ex­pect­ed to keep the lights on “in­to 2027,” per an SEC fil­ing on Mon­day morn­ing. The new fund­ing ex­tends the run­way by a full year, based on guid­ance that the com­pa­ny gave ear­li­er this month, say­ing on Nov. 7 that its bal­ance of $1.0 bil­lion at the end of Sep­tem­ber would last “in­to 2026.”

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