Medivation buys rights to BioMarin's talazoparib for up to $570 million
USA-based Medivation (Nasdaq: MDVN) and US biotech firm BioMarin Pharmaceutical (Nasdaq: BMRN) have entered into an asset purchase agreement under which Medivation will acquire all worldwide rights to talazoparib (formerly referred to as BMN 673).
The drug candidate is a highly-potent, orally-available poly ADP ribose polymerase (PARP) inhibitor currently in a Phase III study for the treatment of patients with deleterious germline BRCA 1 or BRCA 2 mutations and locally advanced and/or metastatic breast cancer. Under the agreement, Medivation will be responsible for all research, development, regulatory and commercialization activities for all indications on a global basis.
Medivation to pay $410 million upfront
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