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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