- AVEO Pharmaceuticals (NASDAQ:AVEO) and Biodesix cross license their IP regarding AVEO's hepatocyte growth factor inhibitory antibody and Biodesix's companion diagnostic test for non-small cell lung cancer VeriStrat.
- Ficlatuzumab failed to demonstrate efficacy in its Phase 2 clinical trial but an exploratory analysis using VeriStrat identified a sub-group of patients who experienced PFS and OS.
- AVEO intends to conduct a new clinical trial (NSCLC POC Trial) on patients selected with the VeriStrat test. Biodesix will fund the trial up to a maximum of $15M. Costs above the maximum will be borne equally.
- If the product is approved for commercial sale, the partners will share all profits and losses on a 50/50 basis.