December 19, 2018 / 11:22 AM / 10 months ago

BRIEF-Aveo Pharmaceuticals Says Co Entered Agreement With Novartis International Pharmaceutical Regarding Aveo's AV380 Program

Dec 19 (Reuters) - Aveo Pharmaceuticals Inc:

* AVEO PHARMACEUTICALS INC - ON DEC. 18, AVEO ENTERED AGREEMENT WITH NOVARTIS INTERNATIONAL PHARMACEUTICAL REGARDING AVEO’S AV380 PROGRAM

* AVEO PHARMACEUTICALS INC - ENTERED AV380 AGREEMENT WITH NOVARTIS TO ESTABLISH, CLARIFY TERMS ON WHICH AV380 PROGRAM WILL BE RETURNED TO CO

* AVEO PHARMACEUTICALS INC - NOVARTIS WILL MAKE A ONE-TIME PAYMENT TO AVEO OF $2.3 MILLION ON OR BEFORE JANUARY 2, 2019

* AVEO PHARMACEUTICALS INC - NOVARTIS WILL PROVIDE THE AV380 DRUG SUPPLY, VALUED AT APPROXIMATELY $4.0 MILLION, TO AVEO AT NO CHARGE

* AVEO PHARMACEUTICALS - INTENDS TO USE $2.3 MILLION PAYMENT TO COVER MILESTONE OBLIGATION DUE IN JAN 2019 TO ST. VINCENT’S HOSPITAL SYDNEY - SEC FILING

* AVEO PHARMACEUTICALS - NOVARTIS WILL NOT DEVELOP, MANUFACTURE/COMMERCIALIZE ANY ANTI-GDF15 ANTAGONIST ANTIBODY FOR 3 YRS AFTER DATE OF AV380 AGREEMENT

* AVEO - DEAL PROVIDES FOR CONTINUED TRANSFER TO CO OF PRECLINICAL, TECHNICAL, MANUFACTURING, OTHER DATA, MATERIALS DEVELOPED BY NOVARTIS Source: bit.ly/2EymJiN Further company coverage:

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