Novartis Terminates Development Of Aveo Antibody
Novartis has walked away from Aveo’s cachexia candidate after a turbulent week in the development of the antibody program, three years after paying $15m for development and commercialization rights.
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To promote both the development of innovative therapeutic antibodies from research originating in China and technology transfer, the Institute Pasteur of Shanghai and MRC Technology are collaborating to speed antibody R&D and scouting licensing opportunities with local pharmas, adding to a string of deals indicative of China’s increasing expertise and interest in the sector.
If Aveo Oncology's lead cancer drug candidate tivozanib was a cat, it would be on its eighth out of nine lives by now, the latest of which involves an ex-US partnership with EUSA Pharma that offers a small $2.5m upfront payment, but potentially lucrative milestone fees totaling as much as $394m.