$41.6M Series B Financing for Arvinas

Shipman & Goodwin represented Arvinas, a private biotechnology company creating a new class of drugs based on targeted protein degradation, in connection with its Series B financing round of $41.6 million. All of the initial Series A investors, including the two lead Series A investors, Canaan Partners and 5AM Ventures, participated in this new round. Three additional leading venture firms joined the round: RA Capital Management, OrbiMed, and New Leaf Venture Partners. Over the past month, Arvinas has been recognized as a Fierce 15 company, signed up Genentech as its second marquee collaborator and now has garnered this $41.6 million Series B round to continue its pipeline development work.

Arvinas is harnessing the body’s own natural degradation and removal system to target and degrade pathogenic proteins by using bifunctional small molecules, Proteolysis-Targeting Chimeras (PROTACs). See more at: http://www.fiercebiotech.com/story/arvinas-scores-41m-round-landmark-month/2015-10-21