Bayer teams up with biotech firm Arvinas in deal worth up to $750 million [Reuters (UK)]
Arvinas, Inc. (ARVN)
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Source: Reuters
Bayer teams up with biotech firm Arvinas in deal worth up to $750 million - Reuters 2 Min Read FRANKFURT (Reuters) - German drugmaker Bayer has signed an alliance with Arvinas Inc to gain access to the U.S. biotech firm’s experimental protein drugs and crop protection technology in a deal worth up to $750 million. Under the pact, Arvinas will receive an upfront payment, pharmaceutical research and development (R&D) support and a direct equity investment of more than $60 million. In addition, milestone payments linked to development achievements and commercial royalties could add up to slightly more $685 million, Bayer said in a statement on Tuesday. Bayer, which is cutting jobs and revamping its drug development activities, has said it will seek to rely more on external partners to improve its prospects in pharmaceuticals development. Arvinas is working on so-called proteolysis targeting chimeras that harness the body’s own natural protein disposal system to degrade and remove disease
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ARVN
News
- Arvinas, Inc. (NASDAQ: ARVN) had its "buy" rating re-affirmed by analysts at HC Wainwright. They now have a $87.00 price target on the stock.MarketBeat
- Arvinas and Pfizer Announce Updated Clinical Data from Phase 1b Trial of Vepdegestrant in Combination with Palbociclib (IBRANCE®) [Yahoo! Finance]Yahoo! Finance
- Arvinas and Pfizer Announce Updated Clinical Data from Phase 1b Trial of Vepdegestrant in Combination with Palbociclib (IBRANCE®)GlobeNewswire
- Arvinas, Inc. (NASDAQ:ARVN) Just Reported First-Quarter Earnings And Analysts Are Lifting Their Estimates [Yahoo! Finance]Yahoo! Finance
- Arvinas Announces Upcoming Vepdegestrant Poster Presentations at the 2024 European Society for Medical Oncology (ESMO) Breast Cancer Annual Congress [Yahoo! Finance]Yahoo! Finance
ARVN
Earnings
- 5/7/24 - Beat
ARVN
Sec Filings
- 5/16/24 - Form 144
- 5/16/24 - Form 8-K
- 5/15/24 - Form 144
- ARVN's page on the SEC website