zr pharma& GmbH entered into an asset purchase agreement to acquire certain assets and rights associated with Rubraca from Clovis Oncology, Inc. (OTCPK:CLVS.Q) for approximately $140 million on April 5, 2023. As part of the purchase agreement with Pharma& to sell the Product Business for an upfront payment of $70,000,000 (the “Upfront Payment”) and up to an additional $50,000,000 upon the successful achievement of specified regulatory milestones and $15,000,000 in later sales related milestones. Pursuant to the terms of the Asset Purchase Agreement, Pharma& and Clovis entered into an escrow agreement with Citibank (the “Escrow Agent”), pursuant to which Pharma& deposited into escrow with the Escrow Agent $6,000,000 against the Upfront Payment. The transaction is part of a sale process under Section 363 of the Bankruptcy Code that will be subject to approval by the Court. Thomas Mark, Rachel Strickland, Andrew Mordkoff and Erin Kinney of Willkie Farr & Gallagher LLP acted as legal advisors to Clovis Oncology. Ingrid Rechtin of Covington & Burling LLP acted as legal advisors to Clovis Oncology. David A. Hammerman of Latham & Watkins LLP acted as legal advisors to zr pharma& GmbH.

zr pharma& GmbH completed the acquisition of certain assets and rights associated with Rubraca from Clovis Oncology, Inc. (OTCPK:CLVS.Q) on May 1, 2023. On April 12, 2023, the Court approved the Rubraca sale transaction.