- Privately held Royalty Pharma acquires UCLA's royalty interest in the prostate cancer drug Xtandi (enzalutamide) for $1.14B in cash. The rights were jointly owned by the university, researchers working at UCLA at the time of the discoveries and a research organization. UCLA will use its share, ~$520M, to support research programs, undergraduate scholarships and graduate student fellowships.
- Enzalutamide, an androgen receptor inhibitor, was developed at UCLA by a team led by Distinguished Professor of Chemistry and Biochemistry Michael Jung. It was licensed to Medivation (MDVN +7.1%) in 2005 who sublicensed it to Astellas Pharma (OTCPK:ALPMF)(OTCPK:ALPMY) in 2009. The FDA approved it in 2012.
- Xtandi generated $1.15B in sales last year as reported by Astellas.