Arvinas Secures $18.25 Million to Advance Clinical Programs Focused on Protein Degradation

Arvinas Secures $18.25 Million to Advance Clinical Programs Focused on Protein
                                 Degradation

Protein Degradation Platform Represents a New Class of Drugs

PR Newswire

NEW HAVEN, Conn., Sept. 26, 2013

NEW HAVEN, Conn., Sept. 26, 2013 /PRNewswire/ --Arvinas Inc., a biotechnology
company creating a new class of drugs based on protein degradation, today
announced it has raised $15 million in Series A funds and $4.25 million in
financial support, $1 million of which is in the form of equity, from the
Connecticut Department of Economic and Community Development and Connecticut
Innovations. Investors in the Series A round include co-leads Canaan Partners
and 5AM Ventures along with Connecticut Innovations and Elm Street Ventures.
The funds will support the development of the company's technology which has
primary application in multiple oncology indications and potential in
inflammatory, autoimmune and rare diseases.

Arvinas is built on the research of Craig Crews, PhD, Lewis B. Cullman
Professor of Molecular, Cellular and Developmental Biology and professor of
Chemistry and Pharmacology at Yale University. The new drugs being developed
by Arvinas would induce a cell's own protein-degradation capabilities to bind
to a particular protein and "label" it for degradation, thus removing a
protein from the system entirely. This contrasts to a more traditional drug
development approach that inhibits proteins. However, only 25 percent of the
body's 20,000 proteins can be inhibited. Proteins that cannot be inhibited can
potentially be degraded using Arvinas' approach, radically expanding the
number of disease-causing proteins that can become the targets of new drugs.

"Degrading proteins as opposed to inhibiting them has potential to open up
areas of drug development that were previously closed because of the technical
limitations of protein inhibition," said Tim Shannon, MD, CEO of Arvinas and
Venture Partner at Canaan Partners. "The Arvinas technology platform
represents an entirely new class of drugs bringing an innovative approach to
treating disease."

"In addition to the fact that a very large portion of proteins cannot be
blocked, inhibition is not permanent, so a disease-causing protein can
eventually become active again after treatment with a drug," said Dr. Crews.
"To effectively stop cancer, a drug-binding site must be inhibited 95 percent
of the time, which is currently difficult to achieve. If a protein is removed
entirely, that should overcome this problem."

Arvinas also announced the formation of a Scientific Advisory Board (SAB),
which will help guide the development of its novel approach. Members of the
SAB include Daniel D. Von Hoff, MD, Chief, distinguished professor and
director of clinical translational research division at the Translational
Genomics Research Institute and Chief Scientific Officer for US Oncology; Mark
Murcko, PhD, former Chief Technology Officer at Vertex Pharmaceuticals; Thomas
J. Lynch, Jr., MD, Director of the Yale Cancer Center and Physician-in-chief
at Smilow Cancer Hospital at Yale-New Haven; Richard Ulevitch, Venture
Partner 5AM and Professor and Chairman Emeritus of the Department of
Immunology at The Scripps Research Institute, La Jolla, California; and Peter
Farina, PhD, executive in residence at Canaan Partners and former Senior
Vice-President of Development at Boehringer Ingelheim.

Arvinas worked with the Yale Office of Cooperative Research (OCR) to secure
intellectual property protection for the technology.

"The Arvinas team has lined up an impressive slate of supporters of the unique
technology that comes out of Yale University," noted John Soderstrom, PhD,
Managing Director of the Office of Cooperative Research at Yale and a member
of Arvinas' Board of Directors. "Degrading proteins that are driving disease
has the potential to bring about drastic changes in drug development, and we
anticipate significant interest from pharmaceutical companies."

Joining Dr. Shannon and Dr. Soderstrom on the Arvinas Board of Directors will
be Kush Parmar, MD PhD and a Principal at 5AM Ventures and Brad Margus, the
CEO of Genome Bridge and former CEO of Envoy Therapeutics.

About the Yale Office of Cooperative Research

The Yale Office of Cooperative Research works with faculty to realize the
commercial potential of their discoveries through licensing of intellectual
property, identification of opportunities to partner with corporate sponsors
of research and facilitating the formation of new ventures based on Yale's
intellectual property. Learn more athttp://www.yale.edu/ocr.

About Arvinas

Arvinas Inc. is creating a new class of drugs based on protein degradation,
which has the potential to open up areas of drug development that were
previously closed because of the technical limitations of target inhibition.
The company's technology is built on the research of Craig Crews, PhD of Yale
University and has primary application in oncology indications as well as
potential in inflammatory, autoimmune and rare diseases.
http://www.arvinas.com/

SOURCE Arvinas Inc.

Contact: Carolyn Hawley, Canale Communication, 619-849-5375,
carolyn@canalecomm.com
 
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