PFE - Arvinas Pfizer team up to develop ARV-471 in breast cancer

Arvinas (ARVN) perks up 3.8% premarket after collaborating with Pfizer (PFE) to develop and commercialize ARV-471, an investigational oral PROTAC (PROteolysis TArgeting Chimera) estrogen receptor ((ER)) protein degrader.Under the terms of the agreement, Pfizer will pay Arvinas $650M upfront, in addition to a potential $1.4B in milestone payments.Separately, Pfizer will make a $350M equity investment in Arvinas, receiving ~3.5M newly issued shares of Arvinas common stock, for an equity stake of ~7%.The companies will equally share worldwide development costs, commercialization expenses, and profits.The ER is a well-known disease driver in most breast cancers. ARV-471 is currently in a Phase 2 dose expansion trial for the treatment of ER+/HER2- locally advanced or metastatic breast cancer. Arvinas and Pfizer expect to initiate two additional trials of ARV-471 in 2021 and Phase 3 studies in 2022 across lines of therapy in metastatic breast cancer, including combinations with Ibrance.

For further details see:

Arvinas, Pfizer team up to develop ARV-471 in breast cancer