Clovis acquires EOS

Clovis Oncology Inc. (NASDAQ:CLVS) acquired Ethical Oncology Science S.p.A. (Milan, Italy) for $200 million up front -- including $10 million in cash and about 3.7 million shares of Clovis stock -- plus up to $220 million in milestones. Clovis gains lucitanib ( E-3810), which is in a Phase I/IIa trial for solid tumors. EOS has ex-Chinese rights to the small molecule inhibitor of fibroblast growth factor (FGF) receptor 1 ( FGFR1) and VEGF from Advenchen Laboratories LLC (Moorpark, Calif).

Clovis and Servier (Neuilly-sur-Seine, France) -- which has exclusive rights from EOS to lucitanib outside of the U.S., Japan and China -- will develop lucitanib together. Clovis is eligible for up to EUR 350 million ($472.6 million) in milestones from Servier, plus low- to mid-teen double digit royalties on lucitanib sales. ...