Aveo Pharmaceuticals shares are surging more than 29 percent in early trading on Monday following an announcement by the company of a new partnership with EUSA Pharma granting EUSA exclusive European distribution rights for advanced renal cell carcinoma (RCC) treatment tivozanib.
Following the announcement, Benzinga had the chance to speak with AVEO CEO Michael Bailey about the new deal.
Importance Of The Deal
Bailey told Benzinga that AVEO is primarily focusing most of its efforts on North America and that the company strives to maintain exclusive rights to tivozanib in that critical market. However, global partnerships with companies like EUSA are an important part of unlocking the full value of the drug.
“This deal represents an important milestone for AVEO in the fulfillment of that overall strategy,” Bailey added.
Tivozanib Advantage
When asked about how tivozanib compares to peer treatments, Bailey explained…
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