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Novartis returns rights for Aveo's preclinical cachexia program

July 3, 2018 8:12 PM UTC

Novartis AG (SIX:NOVN; NYSE:NVS) will return to Aveo Pharmaceuticals Inc. (NASDAQ:AVEO) rights for AV-380 and other related growth differentiation factor 15 (GDF15) inhibitor antibodies, according to an SEC filing.

Aveo granted Novartis exclusive, worldwide rights to the preclinical cachexia program in 2015 for $15 million up front, plus milestones and tiered royalties (see "Aveo Gains on Novartis Licensing Deal")...