In a deal that could bring Arvinas Inc. a potential $2.4 billion, the company will collaborate with Pfizer Inc. to develop and commercialize an oral estrogen receptor protein degrader. In addition to a potential $400 million in approval milestones and a possible $1 billion in commercial milestones, Arvinas will be paid $650 million up front by Pfizer, which will also make an equity investment of $350 million in Arvinas while receiving about 3.5 million newly issued Arvinas common stock shares. With the deal, Pfizer will have a 7% equity share in Arvinas. The two plan to equally divide development and commercialization costs as well as any profits.
LONDON – Targeted protein degradation (TPD) specialist Amphista Therapeutics Ltd. has delivered yet another demonstration of investor interest in the field, closing a $53 million series B.
In a BIO Digital session on “The Convergence of Health and Tech: Personalizing Medicine Beyond the Imaginable,” panelist Ray Deshaies, Amgen Inc.’s senior vice president of global research, said he was excited for the future of drug research, noting that there is an evolving trend away from the development of monospecific drugs designed to exert their effect on just one specific target.
