Arvinas, Pfizer Announce $2.4B Licensing Agreement For Protein-Degrader Based Breast Cancer Therapy

  • Arvinas Inc ARVN and Pfizer Inc PFE have collaborated to develop and commercialize ARV-471, an investigational oral PROTAC (PROteolysis TArgeting Chimera) estrogen receptor protein degrader. 
  • The estrogen receptor is a well-known disease driver in most breast cancers. 
  • ARV-471 is currently in a Phase 2 dose expansion trial for estrogen receptor ER+/HER2- locally advanced or metastatic breast cancer. 
  • Under the terms of the agreement, Pfizer will pay Arvinas $650 million upfront and make a $350 million equity investment, equivalent to a 7% stake in Arvinas.
  • The companies will equally share worldwide development costs, commercialization expenses, and profits.
  • Arvinas is also eligible to receive up to $400 million in approval milestones and up to $1 billion in commercial milestones, in addition to sharing profits on ARV-471 worldwide.
  • The Companies will initiate two additional trials of ARV-471 in 2021, including a second Phase 1b combination trial with everolimus and a trial in the neoadjuvant setting. 
  • In 2022, Arvinas and Pfizer expect to initiate Phase 3 studies across lines of therapy in metastatic breast cancer, including combinations with Ibrance, followed by pivotal studies in the early breast cancer setting. 
  • Price Action: ARVN shares are up 7.09% at $83.05, while PFE shares are down 0.05% at $41.02 during the premarket session on the last check Thursday.

Posted In: breast cancerBriefsBiotechNewsHealth CareContractsMoversTrading IdeasGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.