Novartis returns rights for Aveo's preclinical cachexia program

Novartis AG (NYSE:NVS; SIX:NOVN) 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 Pharmaceuticals, Novartis Deal")...