Novartis Inks Potential $1B Protein Degrader Deal with Arvinas, Begins MorphoSys Tender Offer

Novartis

Pictured: Novartis office building in Marburg, Germany/iStock, TBE

Novartis announced Thursday an exclusive strategic partnership with Arvinas to advance an oral protein degrader for prostate cancer, while also announcing the tender offer for its $2.9 billion acquisition of MorphoSys has commenced.

Under the Arvinas deal, Novartis is putting up $150 million in aggregate upfront payments and is pledging up to $1.01 billion in development, regulatory and commercial milestones, plus tiered royalties.

In return, the pharma will gain access to Arvinas’ second-generation androgen receptor (AR) degrader ARV-766, which is currently being assessed in a Phase I/II study in patients with metastatic castration-resistant prostate cancer (mCRPC). The candidate, which has best-in-class potential for this indication, is designed to be orally bioavailable and in preclinical studies has demonstrated activity against tumors with both wild-type and mutated AR.

Under the agreement, Novartis will now…
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