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AVEO and CANbridge Announce Exclusive Licensing Agreement for AV-203 Outside of North America

Mar. 21, 2016

On March 21, 2016, AVEO Oncology and CANbridge Life Sciences announced  an exclusive collaboration and license agreement in which AVEO has granted CANbridge Life Sciences worldwide rights, excluding North America, to AV-203, AVEO’s clinical-stage ErbB3 (HER3) inhibitory antibody candidate.

CANbridge plans to develop AV-203 first in esophageal squamous cell cancer (ESCC), the most prevalent form of esophageal cancer.

Under the terms of the agreement, CANbridge Life Sciences is obligated to pay AVEO an upfront payment of $1 million plus up to $133 million in potential reimbursement and milestone payments, assuming the successful achievement of specified development, regulatory and commercialization objectives. AVEO is also eligible for a tiered royalty, with a percentage range in the low double digits, on net sales of AV-203 in the agreement’s territories.