Aveo gets $5M payment from Biogen Idec

AVEO Pharmaceuticals has received a $5 million milestone payment from Biogen Idec, triggered by Biogen's selection of the first humanized antibody development candidate from its ErbB3 program. In March 2009, Biogen and Aveo signed a deal for the development and commercialization of AVEO's discovery-stage ErbB3-targeted antibodies for cancer and other diseases outside. Aveo retained full control of the program in North America. Release

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