GEN Exclusives

More »

GEN News Highlights

More »
Apr 4, 2007

Schering-Plough Pledges over $477M in Deal with Aveo

  • Aveo Pharmaceuticals entered into agreement with Schering-Plough to develop and commercialize AV-299. Aveo reports that this antibody is a highly potent antagonist of hepatocyte growth factor/scatter factor (HGF/SF) and has demonstrated efficacy in preclinical models of human cancer.

    Aveo’s Human Response Prediction (HRP™) platform will be utilized to guide the clinical development of AV-299. It is expected to enter trials in early 2008.

    Under the terms of the exclusive, worldwide agreement, Aveo will  receive a $7.5-million upfront payment and a $10-million equity investment. It will have primary responsibility for clinical development of AV-299 through proof-of-concept in man. Aveo will also apply its HRP platform during a multiyear translational research program designed to discover biomarker profiles of patients most likely to benefit from treatment with AV-299. Schering-Plough will fund all research and development expenses.

    Milestone payments for the successful development and commercialization of AV-299 could exceed $460 million, according to Schering-Plough. Upon commercialization, Aveo is eligible to receive royalties on net sales. It also retains the option to co-promote AV-299 in the U.S. for certain oncology indications.



Jobs

GEN Jobs powered by HireLifeScience.com connects you directly to employers in pharma, biotech, and the life sciences. View 40 to 50 fresh job postings daily or search for employment opportunities including those in R&D, clinical research, QA/QC, biomanufacturing, and regulatory affairs.
 Searching...
More »

GEN Poll

More » Poll Results »

Megamerger Dealzapoppin Poll

What company not in this week’s M&A headlines do you think will be at the center of a megamerger, acquisition, or partial selloff this year?