No­var­tis dumps world­wide rights to an Aveo drug, and the lit­tle biotech is not hap­py with them

Three years af­ter No­var­tis stepped up and chipped in a $15 mil­lion up­front in a $326 mil­lion deal to part­ner with Aveo $AVEO on their drug to block GDF15, the phar­ma gi­ant is re­treat­ing from the pact and dump­ing its al­liance.

Aveo’s fil­ing with the SEC on the mat­ter says that the world­wide de­vel­op­ment and li­cens­ing pact will con­clude Au­gust 28, 15 days af­ter the third an­niver­sary of the col­lab­o­ra­tion.

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