As previously announced, on July 21, 2021, Arvinas, Inc. ('Arvinas') and Pfizer Inc. ('Pfizer') entered into a Stock Purchase Agreement (the 'Stock Purchase Agreement'). On September 9, 2021, the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, expired with respect to the reportable transactions contemplated by the Stock Purchase Agreement (the 'HSR termination'). As a result of the HSR termination and satisfaction of the other closing conditions described in the Stock Purchase Agreement, on September 13, 2021, Arvinas issued and sold to Pfizer 3,457,815 shares of Arvinas' common stock at a price of $101.22 per share, for an aggregate purchase price of approximately $350 million, pursuant to the terms of the Stock Purchase Agreement.
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Arvinas Inc. published this content on 13 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 September 2021 20:21:12 UTC.
Arvinas, Inc. is a clinical-stage biotechnology company focused on improving the lives of patients suffering from debilitating and life-threatening diseases through the discovery, development, and commercialization of therapies that degrade disease-causing proteins. The Company uses its PROTAC Discovery Engine platform to engineer proteolysis targeting chimeras, or PROTAC targeted protein degraders, that are designed to harness the body's own natural protein disposal system to selectively and efficiently degrade and remove disease-causing proteins. It has four investigational clinical-stage programs: vepdegestrant (ARV-471) for the treatment of patients with locally advanced or metastatic ER+/HER2- breast cancer; ARV-766 and bavdegalutamide for the treatment of men with metastatic castration-resistant prostate cancer, and ARV-102 for the treatment of patients with neurodegenerative disorders. Its product candidate, ARV-393, is designed to target the B-cell lymphoma 6, or BCL6 protein.