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Aveo Pharmaceuticals Sells 968,539 Overallotment Shares

April 5, 2010 (FinancialWire) — Aveo Pharmaceuticals, Inc. (NASDAQ: AVEO), a biopharmaceutical company focused on discovering, developing and commercializing cancer therapeutics, said that the underwriters of its recently completed initial public offering of common stock have exercised their option to purchase an additional 968,539 shares of common stock to cover over-allotments.

J.P. Morgan Securities (NYSE: JPM) and Morgan Stanley (NYSE: MS) acted as joint book-running managers for the offering.

 The sale of the additional shares is scheduled to close on April 6.

The company said that, including proceeds from the sale of the additional shares, the aggregate net proceeds to Aveo from the initial public offering are around $80.7 million.

Massachusetts-based Aveo is a biopharmaceutical company focused on discovering, developing and commercializing cancer therapeutics.

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