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Clovis Oncology has signed a development and commercialization agreement for Avila Therapeutics’ epidermal growth factor receptor (EGFR) mutant-selective inhibitor (EMSI) program, which is in pre-clinical development for the treatment of non-small cell lung cancer. Avila will receive up to $209 million in up-front and clinical milestone payments, plus possible royalty and sub-licensing fees.
Clovis Oncology last year raised $146 million in Series A funding from Domain Associates, New Enterprise Associates, Versant Ventures, Aberdare Ventures, Abingworth, Frazier Healthcare Ventures and ProQuest Investments. Avila Therapeutics has raised over $51 million from The Novartis Option Fund, Abingworth Management, Advent Venture Partners, Atlas Venture and Polaris Venture Partners.
Avila Therapeutics Inc., a Waltham, Mass.-based covalent drug development company, has raised $30 million in Series B funding. The Novartis Option Fund led the round, and was joined by return backers Abingworth Management, Advent Venture Partners, Atlas Venture and Polaris Venture Partners. In related news, Avila has signed an option agreement with Novartis that could be worth a total of $200 million.
Avila Therapeutics Inc., a Waltham, Mass.-based drug company focused on cancer and viral diseases, has raised an undisclosed amount of Series A funding, according to VentureWire. Abingworth Management led the deal, and was joined by Advent Venture Partners, Atlas Venture and Polaris Venture Partners.