Pfizer and Arvinas entered a global collaboration to develop and commercialize ARV-471 (now vepdegestrant), an oral PROTAC estrogen receptor protein degrader for the treatment of breast cancer. Pfizer paid $650M upfront and Arvinas is eligible for up to $1.4B in milestone payments plus tiered royalties. Development costs and US profits are shared 50/50.
Key facts
AnnouncedJul 22, 2021
ClosedJul 22, 2021
Deal value$2.4B
Deal typeLicensing/Option
Therapeutic areaOncology
IndicationsER+/HER2- Metastatic Breast Cancer, Breast Cancer
Key assetsARV-471 (vepdegestrant), PROTAC protein degradation platform
MechanismPROTAC estrogen receptor protein degrader