Leading the Way in Life Science Technologies

GEN Exclusives

More »

GEN News Highlights

More »
Apr 4, 2007

Schering-Plough Pledges over $477M in Deal with Aveo

  • Aveo Pharmaceuticals entered into agreement with Schering-Plough to develop and commercialize AV-299. Aveo reports that this antibody is a highly potent antagonist of hepatocyte growth factor/scatter factor (HGF/SF) and has demonstrated efficacy in preclinical models of human cancer.

    Aveo’s Human Response Prediction (HRP™) platform will be utilized to guide the clinical development of AV-299. It is expected to enter trials in early 2008.

    Under the terms of the exclusive, worldwide agreement, Aveo will  receive a $7.5-million upfront payment and a $10-million equity investment. It will have primary responsibility for clinical development of AV-299 through proof-of-concept in man. Aveo will also apply its HRP platform during a multiyear translational research program designed to discover biomarker profiles of patients most likely to benefit from treatment with AV-299. Schering-Plough will fund all research and development expenses.

    Milestone payments for the successful development and commercialization of AV-299 could exceed $460 million, according to Schering-Plough. Upon commercialization, Aveo is eligible to receive royalties on net sales. It also retains the option to co-promote AV-299 in the U.S. for certain oncology indications.

Be sure to take the GEN Poll

Scientifically Studying Ecstasy

MDMA (commonly known as the empathogen “ecstasy”) is classified as a Schedule 1 drug, which is reserved for compounds with no accepted medical use and a high abuse potential. Two researchers from Stanford, however, call for a rigorous scientific exploration of MDMA's effects to identify precisely how the drug works, the data from which could be used to develop therapeutic compounds.

Do you agree that ecstasy should be studied for its potential therapeutic benefits?

More »