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

– Arvinas to receive a $150 million upfront payment for the license of ARV-766 and the sale of Arvinas' preclinical AR-V7 program, with the potential under the License Agreement for up to$1.01 billion in development, regulatory, and commercial milestones, as well as tiered royalties – – Novartis to be responsible for worldwide clinical development and commercialization of ARV-766 – – Partnership expected to accelerate and broaden the development of ARV-766 as a potential first-in-class treatment option for ...