Novartis buys Arvinas’ prostate cancer protein degrader for $150m

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Biotechnology company Arvinas has entered into an exclusive strategic license agreement with Novartis for ARV-766, Arvinas’ second generation PROTAC androgen receptor (AR) degrader for patients with prostate cancer.

The transaction also includes an asset purchase agreement for the sale of Arvinas’ preclinical AR-V7 programme, a splice variant of the AR.

Arvinas’ AR-V7-targeting PROTAC protein degrader is designed to target both AR-V7 and full-length AR.

Under the terms of the transaction agreements, Novartis will be responsible for worldwide clinical development and commercialisation of ARV-766 and will have all research, development, manufacturing, and commercialisation rights with respect to the preclinical AR-V7 programme.

Arvinas will receive an upfront payment in the aggregate amount of $150 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.

“We are thrilled to partner with an organisation that shares our dedication to delivering transformative medicines to patients with significant unmet need,” said John Houston, Chairperson, President and Chief Executive Officer of Arvinas.

“We believe the expertise and scale of Novartis will broaden the development of ARV-766 and its potential to be a first- and best-in-class treatment for patients with prostate cancer. This strategic transaction also further validates our innovative PROTAC protein degrader platform and its potential to deliver new treatments.”

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