Tavros Therapeutics Achieves Two Milestone Payments in its Collaboration with Vividion Therapeutics
14 Mayo 2024 - 6:30AM
Tavros Therapeutics, Inc., a precision oncology platform company,
today announced that the Company has achieved two milestone
payments in its collaboration with Vividion Therapeutics, Inc., a
wholly owned and independently operated subsidiary of Bayer AG. The
payments were triggered by the successful achievement of predefined
milestones, underscoring the progress of their strategic
collaboration to discover and develop targeted oncology therapies.
Eoin McDonnell, Ph.D., CEO and co-founder of Tavros, remarked,
“These milestones signify crucial advancements in our collaboration
with Vividion. They highlight the strength of our precision
oncology platform, EVOLVE™, and Vividion’s commitment to exploring
innovative treatment options across various tumor types to maximize
patient benefit.”
Under the terms of the five-year agreement, which began in
October 2022, Tavros received $17.5 million in a cash upfront
payment from Vividion and is eligible to receive up to $430.5
million based on the achievement of prespecified preclinical,
clinical development, and commercial milestones, as well as
low-single-digit royalties on sales of certain potential programs.
Vividion has options to pursue up to five additional targets with
up to $482 million in additional potential payments and
royalties.
“The collaboration between Vividion and Tavros has the potential
to deliver novel precision therapeutics capable of addressing
cancer-causing proteins that have eluded traditional small molecule
drugs. Our progress demonstrates the power of combining Vividion’s
chemoproteomics approach to targeting classically undruggable
proteins with Tavros’ ability to harness synthetic lethality to
uncover druggable vulnerabilities in deadly tumor cells,” said
Aleksandra Rizo, M.D., Ph.D., Chief Executive Officer of
Vividion.
About Tavros Therapeutics, Inc.
Tavros Therapeutics is a precision oncology platform company
that leverages next-generation functional and computational
genomics technology to uncover unique vulnerabilities within tumors
to discover novel targets and biomarkers in areas of high unmet
clinical need. Modular, scalable and fast, the company’s next
generation, bi-directional synthetic lethality platform can
precisely and directly identify the paired genetic interactions
that form the basis for breakthrough targets and first-in-class
cancer drugs. Cutting edge functional genomics and computational
analysis accelerates the discovery of de-risked, druggable targets
to improve patient outcomes, minimizing toxicity, and quickening
development in defined patient subsets. Strategic partnerships with
Zentalis Pharmaceuticals, OpenBench, Inc., and Vividion
Therapeutics, a wholly owned and independently operated subsidiary
of Bayer AG, have validated the platform and expanded the company’s
clinical impact. Tavros is also leveraging its proprietary platform
and map of useful synthetic lethal relationships to build a highly
innovative pipeline of category-defining small-molecule drug
candidates. Based in Durham, N.C., management is comprised of
successful serial entrepreneurs with deep expertise in functional
genomics, tumor genetics, and drug discovery. To learn more, visit
www.tavrostx.com.
About Vividion Therapeutics, Inc.
Vividion Therapeutics, Inc., a wholly owned and independently
operated subsidiary of Bayer AG acquired in August 2021, is a
biopharmaceutical company utilizing novel discovery technologies to
unlock high value, traditionally undruggable targets with precision
therapeutics for devastating cancers and immune disorders. The
company’s platform has enabled it to identify hundreds of
previously unknown functional pockets on well-validated protein
targets implicated in a wide range of diseases, while
simultaneously identifying compounds from its proprietary covalent
chemistry library that interact in a highly selective manner with
those pockets. The company is leveraging its
proprietary chemoproteomic platform to advance a diversified
pipeline of highly selective small molecule therapeutics targeting
high value, traditionally undruggable targets in oncology and
immunology. For more information, please visit
www.vividion.com.
Media Contact:Gina Mangiaracina6 Degrees+1
(917) 797-7904gmangiaracina@6degreespr.com