Arvinas, Merck deal

Arvinas granted Merck an exclusive, multiyear license to use the biotech’s proteolysis-targeting chimeric molecule (PROTAC) platform to develop therapeutics against undisclosed targets. Merck will seek to apply the platform across multiple therapeutic areas. Arvinas is eligible for up to $434 million, including an upfront payment, research funding and development, regulatory and commercial milestones. The company also is eligible for tiered royalties. Merck has an option to expand the deal to include additional disease targets, which would trigger an additional undisclosed payment plus undisclosed milestones and royalties to Arvinas.

PROTAC uses bifunctional small molecules that tether target proteins to von Hippel-Lindau tumor suppressor (vHL), an E3 ubiquitin ligase. vHL then covalently modifies the target with ubiquitin, a small protein that acts as a signal for the proteasome to degrade the target. ...