Arvinas Inc. filed SEC Form 8-K: Other Events
$ARVN
Biotechnology: Pharmaceutical Preparations
Health Care
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 28, 2024
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Item 8.01 Other Events.
As previously announced, on April 10, 2024, Arvinas, Inc., a Delaware corporation (the “Company”), entered into a transaction (the “Transaction”), including both a license agreement (the “License Agreement”) and an asset purchase agreement (the “Asset Agreement”), with Novartis Pharma AG (“Novartis”). On May 28, 2024, the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, expired with respect to the Transaction (the “HSR Termination”). As a result of the HSR Termination and satisfaction of other closing conditions, Novartis will pay to the Company a one-time, upfront payment in the aggregate amount of $150.0 million in accordance with the terms of the License Agreement and the Asset Agreement. Under the terms of the License Agreement, the Company is also eligible to receive up to an additional $1.01 billion as contingent payments based on specified development, regulatory, and commercial milestones for ARV-766 being met, as well as tiered royalties based upon worldwide net sales of ARV-766, subject to reduction under certain circumstances as provided in the License Agreement.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ARVINAS, INC. | ||||||||
Date: May 30, 2024 | By: | /s/ Randy Teel | ||||||
Randy Teel Interim Chief Financial Officer | ||||||||