Avila pockets payment in $209M lung cancer drug deal

Avila Therapeutics (a 2010 Fierce 15 company) has banked $4 million from partner Clovis Oncology ($CLVS). The payment was made as part of Avila's $209 million alliance with Clovis (a 2009 Fierce 15 company) struck in 2010 to develop Avila's covalent inhibitor of epidermal growth factor receptor (EGFR) mutations in non-small cell lung cancer. Avila said the payment was triggered after the FDA allowed Clovis' investigational new drug (IND) application for early trials of the compound, dubbed CO-1686, expected to kick off in the second quarter. Release

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