US biotech firm AVEO Oncology (Nasdaq: AVEO) has entered into an exclusive, worldwide license agreement with Swiss pharma giant Novartis (NOVN: VX) worth a potential $326 million, and sending its shares up more than 80% to $2.11 in early trading this morning.
The deal is for the development and commercialization of AVEO’s first-in-class, potent, humanized inhibitory antibody targeting growth differentiation factor 15 (GDF15), AV-380, and related antibodies, including modified or derivative forms of any such antibody.
Financial terms of the deal
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