Clovis Oncology Inc., maker of the ovarian and prostate most cancers drug Rubraca, filed for individual bankruptcy in excess of the weekend with a proposed deal in hand to promote its legal rights to a cancer remedy underneath improvement to Swiss pharmaceutical large Novartis AG .
Novartis Innovative Therapies AG has agreed to make an upfront payment of $50 million for Clovis’s clinical candidate, FAP-2286, and could fork out an added $333.75 million if specific advancement milestones are reached, moreover $297 million for subsequent gross sales plans.
Clovis Oncology Inc., maker of the ovarian and prostate most cancers drug Rubraca, filed for individual bankruptcy in excess of the weekend with a proposed deal in hand to promote its legal rights to a cancer remedy underneath improvement to Swiss pharmaceutical large Novartis AG .
Novartis Innovative Therapies AG has agreed to make an upfront payment of $50 million for Clovis’s clinical candidate, FAP-2286, and could fork out an added $333.75 million if specific advancement milestones are reached, moreover $297 million for subsequent gross sales plans.
