Clovis Oncology acquires Ethical Oncology Science for $420 million and a enters into a licensing deal for Lucitanib with Servier for $470 million.
EOS owns the exclusive global (excluding China) development and commercialization rights for lucitanib.
Lucitanib is an oral, dual-selective inhibitor of the tyrosine kinase activity of FGFR1/2 and VEGFR1-3.
In 2012, EOS sublicensed lucitanib rights in Europe and the rest-of-world markets, excluding China, to Les Laboratoires Servier.
Clovis holds exclusive rights for lucitanib in the U.S. and Japan after it acquires EOS, and will collaborate with Servier on the global clinical development of lucitanib.
Ongoing Phase I/IIa clinical study for lucitanib.
Clovis is acquiring EOS for an up-front payment of $200 million, which includes $190 million in Clovis common stock (3,713,731 shares) and $10 million in cash.
Additional $65 million in cash upon the initial approval of lucitanib by the FDA.
Clovis will also pay the EOS shareholders up to an additional EUR115 million in cash (approximately $155 million) upon the receipt by Clovis of certain of the milestone payments pursuant to the Servier license agreement.
Read the full article at EOS website.
For further deal information visit Current Agreements (subscription required)
View: Current Partnering’s Partnering Scorecard – view top life science partnering deals by value
View: Current Partnering’s Deal Metrics – the latest deal trend infographics for life science deal making
View: Current Partnering’s Big Pharma Deal Making Scorecard – latest trends in big pharma deal making activity
View: Current Partnering’s Big Biotech Deal Making Scorecard – latest trends in big biotech deal making activity