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Medivation buys PARP inhibitor from BioMarin

August 25, 2015 1:53 AM UTC

Medivation Inc. (NASDAQ:MDVN) acquired worldwide rights to talazoparib from BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). BioMarin will receive $410 million up front and is eligible for $160 million in milestones, plus mid-single digit royalties.

The poly(ADP-ribose) polymerase ( PARP) inhibitor is in the Phase III EMBRACA trial to treat locally advanced and/or metastatic breast cancer patients with deleterious germline breast cancer 1 early onset ( BRCA1) or BRCA2 mutations. The partners expect the deal to close this year. ...