3D Medicines Inc. has licensed in from Aravive Inc. a phase Ib-completed GAS6/AXL inhibitor known as AVB-500 in a deal worth up to $219 million. The Chinese firm will have the rights to develop and commercialize the drug candidate across all oncology indications in mainland China, Hong Kong, Macau and Taiwan.
3D Medicines Inc. has licensed in from Aravive Inc. a phase Ib-completed GAS6/AXL inhibitor known as AVB-500 in a deal worth up to $219 million. The Chinese firm will have the rights to develop and commercialize the drug candidate across all oncology indications in mainland China, Hong Kong, Macau and Taiwan.
Aravive Biologics Inc. dispelled doubts that may have persisted after the disclosure of early data from the ongoing phase Ib portion of the phase Ib/II trial with AVB-500 in platinum-resistant ovarian cancer, and Wall Street rewarded the company’s shares (NASDAQ:ARAV) with an 48.1% hike, or $3.13, to close Wednesday at $9.64.
Aravive Inc.'s chief medical officer, Gail McIntyre, told BioWorld that a "very clever mechanism" designed by researchers at Stanford University helped lead to positive data from the first 12 patients of the ongoing phase Ib part of the phase Ib/II experiment with AVB-500 against notoriously hard-to-beat ovarian cancer.