AVEO Pharma Sets IPO Terms

AVEO Pharmaceuticals Inc., a Cambridge, Mass.-based oncology drug company, has set its IPO terms to seven million common shares being offered at between $13 and $15 per share. It would have an initial market cap of approximately $415 million, were it to price at the high end of its range.

The company plans to trade on the Nasdaq under ticker symbol AVEO, with J.P. Morgan and Morgan Stanley serving as co-lead underwriters.

AVEO has raised around $151 million in VC funding, from firms like Biogen Idec (14% pre-IPO stake), MPM Capital (10.7%), Highland Capital Partners (9.9%), Venrock (8%), Prospect Venture Partners (7.8%), Bessemer Venture Partners, Merlin BioMed Group, Mitsubishi UFJ Financial Group, Flagship Ventures, Oxford Bioscience Partners, Greylock Partners, Lotus Biosciences, GE Capital and Vatera Holdings. www.aveopharma.com

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