An agreement to help research and distribute the promising anti-cancer drug Tivozanib will now be handled jointly by Astellas and Aveo Pharmaceuticals, the two companies announced recently in a statement.
The deal - which could be worth up to $1.3 billion, including future payments - means that the partnership will have distribution rights for Tivozanib everywhere except Asia, the statement said.
How successful the drug is, however, remains to be seen. Tivozanib is currently in the final phase of a stage three clinical trial which, experts say, could easily make or break the product.
The idea behind the Tivozanib is to obstruct a type of chemical which has been observed to be important to the progression of a large number of common types of cancer, the companies stated. This could make it more widely useful than more targeted treatments.
As with any potentially revolutionary breakthrough, the effects of Tivozanib's introduction may be difficult to predict, experts say. However, should it live up to the hype, longer life expectances and lower life insurance quotes could be one result.