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Business
New Life For Aveo’s Cancer Candidate
by Rick Mullin
November 17, 2014
| A version of this story appeared in
Volume 92, Issue 46
Months after losing Astellas Pharma as a partner to develop tivozanib, Aveo Oncology has signed a licensing agreement with Ophthotech, a specialist in age-related macular degeneration, to study the small molecule as a treatment for nononcological diseases of the eye. Ophthotech will pay Aveo $500,000 to investigate tivozanib, a vascular endothelial growth factor (VEGF) tyrosine kinase inhibitor, and could make up to $8 million in milestone payments if it continues developing the drug candidate. Astellas dropped out of the $125 million agreement to develop tivozanib for cancer in January.
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