November 17, 2017

Arvinas, Genentech expand licensing agreement; deal value could exceed $650M

New Haven biotech company Arvinas LLC announced it has expanded its license agreement with a California-based pharmaceutical company to develop a new class of drugs targeting disease-causing proteins.

The multiyear license agreement with Genentech, which was initiated in Oct. 2015, will encompass additional disease targets and expand the companies' collaboration. Under the new deal, Arvinas is eligible to receive development and commercialization milestone payments in excess of $650 million based on achievement of certain predetermined milestones.

Arvinas also can receive tiered royalties on sales of products resulting from the license agreement. Full financial terms have not been disclosed.

Genentech and Arvinas are working to develop new therapeutics using Arvinas' PROTAC technology, which is essentially small molecules aimed at destroying disease-causing cellular proteins.

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