05 July 2018
In a deal valued at at least $326 million just announced, Novartis will return the Oncology antibody to Aveo. The AV-380 antibody targets GDF15. In an SEC filing, Aveo said it has received a 'notice of termination' of the license agreement with Novartis. This agreement gave Novartis exclusive worldwide right to develop and commercialise AV-380 and related Aveo antibodies that inhibit GDF15.
Though Novartis regard the programme 'an important asset', they also maintain that development delays, and ultimately an internal decision not to continue further development as the key reason to hand back the license. Novartis also said that changes in management and strategic priorities within the firm were central to their decision.
This news is not totally unexpected, as Aveo were involved with filing a dispute notification regarding Novartis’ compliance with its 'diligence obligations' as part of the development of AV-380. Aveo had stated that 'if the parties are unable to resolve the dispute at the management level, an arbitration could be commenced'.
Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to email@example.com or call her on +44 (0) 207 336 6100
Visiongain is one of the fastest-growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports cusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.
Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.
The pharma wholesale and distribution market was valued at US$511.80 billion in 2021 and is projected to grow at a CAGR of 7.84% during the forecast period 2022-2032.
29 September 2022
The mesenchymal stem cells market was valued at US$2.44 billion in 2021 and is projected to grow at a CAGR of 13.82% during the forecast period 2022-2032.
21 September 2022
The global advanced wound care management market is estimated to be valued at US$12,581.3 million in 2022. The market is projected to reach a market value of US$23,307.5 million by 2032 and is projected to grow at a CAGR of 6.36% during the forecast period 2022-2032.
16 September 2022
The gene therapy R&D market was valued at US$1,653.0 million in 2021 and is projected to grow at a CAGR of 30.1% during the forecast period 2022-2032.