CAMBRIDGE, Mass.--(BUSINESS WIRE)--AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO), a biopharmaceutical company focused on discovering, developing and commercializing cancer therapeutics, today announced the execution of a securities purchase agreement with a select group of institutional and accredited investors providing for a private placement, or PIPE financing. Upon the closing of the PIPE financing, AVEO will receive gross proceeds of approximately $61 million resulting from the sale of 4.5 million shares of common stock at a purchase price of $13.50 per share, which represents an approximate 7% discount to the closing price on October 28, 2010. The closing of the PIPE financing is subject to standard closing conditions. J.P. Morgan Securities LLC and Canaccord Genuity Inc. served as joint lead placement agents for the financing. RBC Capital Markets Corporation served as co-placement agent.
