Novartis: licensing agreement in prostate cancer
Under the terms of the agreement, Arvinas will grant the Swiss group an exclusive license for the development and commercialization of ARV-766, an androgen receptor (AR) degrader.
In return, the New Haven, Connecticut-based company will receive an initial payment of $150 million, which could be accompanied by additional development and regulatory milestones of over $1 billion, not including possible royalties on future sales of the product.
The transaction also includes AR-V7, a preclinical program launched by the biotech company.
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