Canbridge in-licenses Aveo mAb

Aveo Pharmaceuticals Inc. (NASDAQ:AVEO) granted Canbridge Life Sciences Ltd. (Beijing, China) exclusive, ex-North American rights to oncology candidate AV-203. Aveo will receive $1 million up front and is eligible for $133 million in milestones, plus royalties.

The deal, announced Monday, is Canbridge's first in-licensing deal outside Asia. Previously, Canbridge had focused on in-licensing Asian rights to molecules developed by Western biotechs (see BioCentury, Feb. 17, 2014). ...