Clovis goes bankrupt with deal to sell cancer drug candidate to Novartis


Clovis Oncology Inc., maker of ovarian and prostate cancer drug Rubraca, filed for bankruptcy over the weekend with a proposed deal underway to sell its rights to a cancer therapy in development to the Swiss pharmaceutical giant Novartis AG.

Novartis Innovative Therapies AG has agreed to make an upfront payment of $50 million for Clovis’ clinical candidate, FAP-2286, and could pay an additional $333.75 million if certain development milestones are reached, plus $297 million dollars for subsequent sales targets.



Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button