Arvinas (NASDAQ:ARVN) strikes $1B+ deal with Novartis for cancer therapy

Arvinas (NASDAQ:ARVN) has announced a significant transaction with Novartis, including a license and asset purchase agreement, bolstering Arvinas’ strategic position in developing treatments for prostate cancer.

On April 10, 2024, Arvinas entered into a license agreement granting Novartis an exclusive worldwide license to develop, manufacture, and commercialize ARV-766, Arvinas' advanced PROTAC® androgen receptor degrader, aimed at treating 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 agreement, Novartis will make an upfront payment of $150 million to Arvinas, with the potential for Arvinas to receive up to an additional $1.01 billion in contingent payments based on reaching specific development, regulatory, and commercial milestones.

This collaboration is a crucial step for Arvinas, potentially expediting and expanding the development of ARV-766 as a pioneering treatment option for prostate cancer patients.

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On April 10, 2024, Arvinas entered into a license agreement granting Novartis an exclusive worldwide license to develop, manufacture, and commercialize ARV-766, Arvinas' advanced PROTAC® androgen receptor degrader, aimed at treating 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 agreement, Novartis will make an upfront payment of $150 million to Arvinas, with the potential for Arvinas to receive up to an additional $1.01 billion in contingent payments based on reaching specific development, regulatory, and commercial milestones. This collaboration is a crucial step for Arvinas, potentially expediting and expanding the development of ARV-766 as a pioneering treatment option for prostate cancer patients. 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