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AVEO to improve $61 million through personal placement AVEO Pharmaceuticals.

AVEO to improve $61 million through personal placement AVEO Pharmaceuticals, Inc. , a biopharmaceutical business focused on discovering, commercializing and developing cancer therapeutics, today announced the execution of a securities purchase agreement with a select group of institutional and certified investors providing for a private placement, or PIPE financing. Upon the closing of the PIPE financing, AVEO will receive gross proceeds of around $61 million resulting from the sale of 4 generic drugs .5 million shares of common stock at a price of $13.50 per share, which represents an approximate 7 percent discount to the closing price on October 28, 2010. The closing of the PIPE financing is subject to standard closing circumstances.

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