Arvinas (ARVN) announced it has entered into an exclusive strategic license agreement with Novartis (NVS) for the worldwide development and commercialization of ARV-766, Arvinas’ second generation PROTAC androgen receptor degrader for patients with prostate cancer. The transaction also includes an asset purchase agreement for the sale of Arvinas’ preclinical AR-V7 program to Novartis. Under the terms of the transaction agreements, Novartis will be responsible for worldwide clinical development and commercialization of ARV-766 and will have all research, development, manufacturing, and commercialization rights with respect to the preclinical AR-V7 program. Arvinas will receive an upfront payment in the aggregate amount of $150.0 million. Under the License Agreement, Arvinas is eligible to receive additional development, regulatory, and commercial milestones of up to $1.01 billion, as well as tiered royalties for ARV-766.
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Read More on ARVN:
- Arvinas Enters into a Transaction with Novartis, including a Global License Agreement for the Development and Commercialization of PROTAC® Androgen Receptor (AR) Protein Degrader ARV-766 for the Treatment of Prostate Cancer
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- Arvinas Appoints Noah Berkowitz, M.D., Ph.D., as Chief Medical Officer
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