Arvinas Enters into a Transaction with Novartis, including a Global License Agreement for the Development and Commercialization of PROTAC® Androgen Receptor (AR) Protein Degrader ARV-766 for the Treatment of Prostate Cancer

Core Insights - Arvinas has entered into an exclusive strategic license agreement with Novartis for the worldwide development and commercialization of ARV-766, a second-generation PROTAC® androgen receptor degrader for prostate cancer [1][2] - The agreement includes a $150 million upfront payment and potential additional payments of up to $1.01 billion in development, regulatory, and commercial milestones, along with tiered royalties [1][2] - Novartis will handle all aspects of clinical development and commercialization for ARV-766 and the preclinical AR-V7 program [2] Group 1 - The partnership aims to accelerate the development of ARV-766 as a potential first-in-class treatment for prostate cancer patients [1][2] - ARV-766 is designed to selectively target and degrade the androgen receptor, showing preclinical activity in various tumor models, including those with AR mutations [4] - Arvinas utilizes its proprietary PROTAC® Discovery Engine platform to create therapies that degrade disease-causing proteins, with a focus on unmet medical needs [5] Group 2 - The transaction is subject to necessary consents or approvals, including antitrust considerations under the Hart-Scott-Rodino Antitrust Improvements Act [3] - Goldman Sachs & Co. LLC is serving as the exclusive financial advisor to Arvinas for this transaction [3]