- In a regulatory filing, Medivation (NASDAQ:MDVN) reports that it completed its acquisition of talazoparib, a PARP inhibitor, from BioMarin Pharmaceutical (NASDAQ:BMRN). Under the terms of the deal, Medivation paid BioMarin an upfront fee of $410M and will pay up to $160M in various milestones and mid-single-digit royalties on net sales.
- PARP inhibitors fight cancer cells by inhibiting DNA repair. Certain cancer cells, such as those with BRCA mutations, are deficient in DNA repair pathways so they are more sensitive to PARP inhibition.
- Previously: Medivation to acquire all worldwide rights to talazoparib from BioMarin (Aug. 24)