Boulder’s Clovis Oncology, Inc. is acquiring rights to a cancer treatment therapy from German biotechnology company, 3BP, for an upfront payment of about $12 million.
“The initial focus is on developing a peptide-targeted radionuclide therapy and imaging agent targeting fibroblast activation protein alpha. FAP is highly expressed in many epithelial cancers, including more than 90% of breast, lung, colorectal and pancreatic carcinomas,” according to a news release.
Clovis will conduct global clinical trials, and has obtained global rights, excluding Europe (inclusive of Russia, Turkey and Israel), where 3BP retains rights.
Both companies will collaborate for the discovery and development of radiopharmaceuticals for three additional targets using 3BP’s technology platform. 3BP will be responsible for discovery activities for the three targets, and once lead molecules have been identified, Clovis will follow up with investigational new drug-enabling studies, according to the release.