Tavros Therapeutics Achieves Two Milestone Payments in its Collaboration with Vividion Therapeutics [Yahoo! Finance]
BAYER AG S/ADR (BAYRY)
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Source: Yahoo! Finance
DURHAM, N.C., May 14, 2024 (GLOBE NEWSWIRE) -- Tavros Therapeutics, Inc., a precision oncology platform company, today announced that the Company has achieved two milestone payments in its collaboration with Vividion Therapeutics, Inc., a wholly owned and independently operated subsidiary of Bayer AG. The payments were triggered by the successful achievement of predefined milestones, underscoring the progress of their strategic collaboration to discover and develop targeted oncology therapies. Eoin McDonnell, Ph.D., CEO and co-founder of Tavros, remarked, “These milestones signify crucial advancements in our collaboration with Vividion. They highlight the strength of our precision oncology platform, EVOLVE™, and Vividion's commitment to exploring innovative treatment options across various tumor types to maximize patient benefit.” Under the terms of the five-year agreement, which began in October 2022, Tavros received $17.5 million in a cash upfront payment from Vividion and is e
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