- Privately held Arvinas LLC enters into a research collaboration and license agreement with Pfizer (PFE +0.2%) aimed at discovering and developing small molecule drugs that degrade disease-causing cellular proteins.
- The effort will leverage Arvinas' proprietary PROTAC (PROteolysis TArgeting Chimeras) platform. PROTAC degraders work by recruiting an enzyme called E3 ligase to tag the target protein for degradation through protein complexes called proteasomes. Arvinas says its approach is better than traditional small molecule inhibitors because it utilizes the cell's natural process to degrade and eliminate problematic proteins.
- Under the terms of the multiyear agreement, Arvinas will be responsible for discovery while Pfizer will handle clinical development and commercialization. Arvinas will be eligible to receive up to $830M in upfront and milestone payments and tiered royalties on net sales.
- Now read: Pfizer Scores Sutent Win, But Bristol-Myers Looks To Steal Its Thunder
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