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AVEO, Astellas form potential $1.4B drug development deal

Thu, 02/17/2011 - 5:31am
Mass High Tech: The Journal of New England Technology

Cambridge-based AVEO Pharmaceuticals Inc. and Astellas Pharma Inc., of Tokyo, have formed a development and commercialization deal in which AVEO (Nasdaq: AVEO) will bring in $125 million upfront and up to $1.3 billion in potential milestone payments.

The agreement centers around the development of tivozanib, AVEO’s lead treatment for renal cell carcinoma (RCC), currently in Phase 3 clinical trials.

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