On March 16, 2020 Medivir AB (Nasdaq Stockholm: MVIR) reported that it has entered into a license agreement with US biotech company Tango Therapeutics for one of Medivir’s preclinical research programs (Press release, Medivir, MAR 16, 2020, View Source [SID1234555624]). Under the terms of the agreement, Medivir will receive an undisclosed upfront payment and is eligible to receive multiple undisclosed development and commercial milestones as well as low single-digit royalties on future products.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

"We are pleased to see one of our promising preclinical assets finding a new home for further exploration by a very exciting company" said Dr Christina Herder, EVP & COO of Medivir.

"Synthetic lethality as the basis for a cancer drug target discovery engine holds tremendous promise, exemplified by the number of novel context-dependent cancer drug targets we have discovered using this approach in the past few years," said Barbara Weber, MD, Tango’s President and Chief Executive Officer. "In-licensing this program from Medivir will help us to capitalize on a novel synthetic lethal interaction and accelerate an important program."