Oncology Venture exercises option to in-license Dovitinib a Phase 3 Multi Tyrosine Kinase Inhibitor
Hoersholm, Denmark, April 9, 2018 – Oncology Venture AB (OV:ST) (“OV” or the “Company”) today announced that it has entered into an agreement with Novartis Pharma AG (Basel, Switzerland) for the exclusive global rights to develop and commercialize dovitinib (TKI258), a small molecule, multi- tyrosine kinase inhibitor (TKI). Novartis will receive an upfront payment, development milestones, and royalties on sales. Today’s announcement follows on an earlier agreement between the companies, that included an option for OV to in-license dovitinib at predetermined conditions. As part of the