Pharma BD Deal Intelligence
In June 2019, Bayer and Arvinas formed a collaboration to apply Arvinas' PROTAC targeted protein degradation platform to human therapeutics across cardiovascular, oncology, and gynecological disease targets, alongside a separate agricultural PROTAC joint venture (later named Oerth Bio). Per the companies' announcement, Arvinas received an upfront payment plus a direct Bayer equity investment, with total upfront/committed funding across the human collaboration, the equity stake, and the agricultural JV exceeding $110M, and was eligible for more than $685M in development milestones plus royalties. Bayer terminated the human collaboration agreement in August 2024; Arvinas recognized the loss of the associated collaboration revenue and Bayer no longer appears among its named partners.