Kyowa Kirin Buys Back Tivozanib Non-Oncology Rights from AVEO Oncology
AVEO Pharmaceuticals, Inc. (AVEO)
Last aveo pharmaceuticals, inc. earnings: 3/16 04:05 pm
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Source: Business Wire
TOKYO & CAMBRIDGE, Mass.--(BUSINESS WIRE)--Kyowa Kirin Co., Ltd., (Kyowa Kirin, TYO: 4151) and AVEO Oncology (NASDAQ: AVEO) announce that they have amended their license agreement to allow Kyowa Kirin to buy back the non-oncology rights of tivozanib in AVEO territories, which includes the U.S. and EU. The agreement is an amendment to the terms of the 2006 tivozanib license agreement between Kyowa Kirin and AVEO which granted AVEO exclusive rights of tivozanib in all indications.Under the terms of the amended license agreement, Kyowa Kirin will reobtain the non-oncology rights of tivozanib in AVEO territories excluding the rights which are currently sublicensed to EUSA Pharma. Kyowa Kirin will be obligated to a $25 million upfront payment to AVEO, waive AVEO’s obligation to make an $18 million milestone payment upon AVEO gaining U.S. marketing approval, and up to $391 million in potential milestone payments upon the successful achievement of certain development and commercial objec
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