A long-suf­fer­ing Clo­vis makes a leap in­to ra­dio­phar­ma­ceu­ti­cals, pay­ing $12M in cash to beef up the pipeline

In the 17 months since Clo­vis won an ap­proval for their PARP drug Rubra­ca, the re­al­i­ty of ane­mic sales rev­enue against a back­drop of ma­jor league com­pe­ti­tion has crushed its shares and raised doubts about its fu­ture. So now it’s go­ing about the busi­ness of adding new can­di­dates to the pipeline that might help in­spire some re­newed en­thu­si­asm for the com­pa­ny.

Mon­day morn­ing Clo­vis re­port­ed that it is hand­ing over $12 mil­lion in up­front pay­ments to Berlin-based 3B Phar­ma­ceu­ti­cals to nab rights to pre­clin­i­cal ra­dio­phar­ma­ceu­ti­cals. And the Boul­der, CO-based biotech says it plans to steer the first drug to the clin­ic in the sec­ond half of next year.

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