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Bankrupt Clovis Oncology offloads assets, including ovarian cancer drug Rubraca, to Swiss firm Pharma& Schweiz for over $70 million.
Four months after filing for bankruptcy, Clovis Oncology has agreed to sell its remaining assets, including the rights to ovarian cancer drug Rubraca, to Swiss company Pharma& Schweiz GmbH for $70 million upfront, with an additional $50 million tied to regulatory milestones and $15 million in sales-related milestones. Commercial challenges with Rubraca, approved in 2016, contributed to the company's failure. Rubraca is a PARP inhibitor, a class of cancer drugs currently under scrutiny, including AstraZeneca and Merck's Lynparza and GSK's Zejula.
Reference: Clovis sells off remaining assets—including cancer drug Rubraca—for $70M-plus. April 7, 2023 / FiercePharma