Arvinas Secures $150M Deal with Novartis

Arvinas, Inc. has just announced a significant transaction with Novartis for the development and commercialization of ARV-766, a protac® androgen receptor (AR) protein degrader intended for the treatment of prostate cancer. As part of this agreement, Arvinas is set to receive a substantial $150 million upfront payment for the licensing of ARV-766 and the sale of its preclinical AR-V7 program. Additionally, there is the potential for up to $1.01 billion in development, regulatory, and commercial milestones, along with tiered royalties.

Under the terms of the agreement, Novartis will take on the responsibility for global clinical development and commercialization of ARV-766 and will hold all research, development, manufacturing, and commercialization rights for the preclinical AR-V7 program. Goldman Sachs & Co. LLC is acting as the exclusive financial advisor to Arvinas in this transaction.

ARV-766, an investigational orally bioavailable protac® protein degrader designed to selectively target and degrade the androgen receptor, has demonstrated activity in preclinical models of wild type androgen receptor tumors, as well as in tumors with AR mutations or amplification. These are common potential mechanisms of resistance to currently available AR-targeted therapies.

Arvinas, a clinical-stage biotechnology company focused on degrading disease-causing proteins, uses its proprietary protac® discovery engine platform to engineer protac® targeted protein degraders. The company's pipeline includes four investigational clinical-stage programs, with ARV-766 and Bavdegalutamide intended for the treatment of patients with metastatic castration-resistant prostate cancer, and Vepdegestrant (ARV-471) for patients with locally advanced or metastatic ER+/HER2* breast cancer.

This strategic partnership is expected to accelerate and broaden the development of ARV-766 as a potential first-in-class treatment option for patients with prostate cancer, reinforcing the innovative potential of Arvinas' protac protein degrader platform in delivering new and transformative treatments. As a result of these announcements, the company's shares have moved 1.6% on the market, and are now trading at a price of $37.33. For the full picture, make sure to review Arvinas's 8-K report.

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