Rett Syndrome Patients Show Further Clinical Improvement After 20 Weeks of NTI164 Treatment

– Obtained $150 million upon shut of ARV-766 license settlement and sale of preclinical AR-V7 program to Novartis; potential for as much as a further $1.01 billion primarily based on achievement of growth, regulatory and industrial milestones and future royalties –

– Strengthened government crew with the appointment of Andrew Saik as Chief Monetary Officer and the promotions of Ian Taylor to President of R&D, Angela Cacace to Chief Scientific Officer, and Randy Teel to Chief Enterprise Officer –

NEW HAVEN, Conn., July 30, 2024 (GLOBE NEWSWIRE) — Arvinas, Inc. (Nasdaq: ARVN), a clinical-stage biotechnology firm creating a brand new class of medication primarily based on focused protein degradation, at this time reported monetary outcomes for the second quarter ended June 30, 2024, and supplied a company replace.

“Through the second quarter, we continued making significant progress throughout our whole portfolio, with upcoming milestones that can additional assist our mission to enhance affected person lives with pioneering therapies from our revolutionary PROTAC ^® protein degradation platform,” mentioned John Houston, Ph.D., Chairperson, Chief Government Officer and President at Arvinas. “The readout of VERITAC-2, our first Part 3 medical trial, shall be a landmark occasion for Arvinas. We’re on-track to finish enrollment within the fourth quarter of the 12 months, with topline knowledge anticipated in both the fourth quarter of 2024 or first quarter of 2025. If constructive, we imagine these outcomes will assist our first new drug utility submitting and our transition to a commercial-stage firm, assuming regulatory approval.”

“We’re properly on our strategy to turning into a multi-product, commercial-stage group with robust management and a sturdy pipeline throughout a number of indications,” continued Dr. Houston. “Our first PROTAC degrader with the potential to deal with neurodegenerative ailments, ARV-102, was lately cleared to provoke the a number of ascending dose portion of our Part 1 medical trial. As well as, we initiated the first-in-human Part 1 medical trial in sufferers with B-cell lymphomas with our PROTAC BCL6 degrader ARV-393. I am excited by the progress now we have made and the continued confidence now we have in our PROTAC platform, which was additional validated by our current strategic transaction with Novartis. We imagine Novartis will speed up and broaden the event of ARV-766 as a possible best-in-class therapy for sufferers with prostate most cancers.”

Current Developments and 2Q Enterprise Highlights

Vepdegestrant

• Evaluated enrollment and blinded occasion charges within the ongoing VERITAC-2 Part 3 monotherapy medical trial (NCT05654623) in sufferers with metastatic breast most cancers.
  • The trial is on monitor to finish enrollment in 4Q24.
  • Primarily based on present trial standing, the first completion date has been reprojected to November 2024, with topline knowledge now anticipated in 4Q24/1Q25.
• Accomplished enrollment of the research lead-in for the VERITAC-3 Part 3 medical trial of vepdegestrant together with palbociclib as a first-line therapy in sufferers with estrogen receptor (ER) constructive/human progress epidermal progress issue 2 (HER2) unfavourable (ER+/HER2-) domestically superior or metastatic breast most cancers.
• Continued enrollment globally in a number of medical research of vepdegestrant in ER+/HER2- metastatic breast most cancers.
• Offered up to date medical knowledge from a Part 1b medical trial mixture cohort evaluating vepdegestrant together with palbociclib in closely pre-treated sufferers with domestically superior or metastatic ER+/HER2- breast most cancers on the 2024 European Society for Medical Oncology (ESMO) Breast Most cancers Annual Congress.
  • After six months of further follow-up, up to date knowledge from the trial continued to reveal an encouraging medical profit price, goal response price and progression-free survival, and a constant security profile as beforehand reported on the San Antonio Breast Most cancers Symposium (SABCS) in December 2023.
  • The medical profit price throughout all dose ranges (n=46) was 63%; the target response price in evaluable sufferers with measurable illness at baseline (n=31) was 42%; median progression-free survival primarily based on 27 (59%) occasions throughout all dose ranges was 11.2 months (95% CI: 8.2 – 16.5) and the security profile of vepdegestrant together with palbociclib had been according to knowledge beforehand reported at SABCS in December 2023.
  • Sufferers receiving the really helpful Part 3 dose of vepdegestrant (200mg) together with palbociclib 125mg (n=21), achieved a median progression-free survival of 13.9 months (95% CI: 8.1-NR).

Strategic Transaction with Novartis

• Entered right into a license settlement and asset buy settlement with Novartis (NYSE: NVS) for the unique, worldwide growth, manufacture and commercialization of ARV-766, Arvinas’ second technology PROTAC ^® androgen receptor (AR) degrader for sufferers with prostate most cancers, and the sale of Arvinas’ preclinical AR-V7 program, which closed on Could 28, 2024.
  • Arvinas obtained a one-time, upfront fee within the mixture quantity of $150.0 million in accordance with the phrases of the license settlement and the asset buy settlement. Underneath the phrases of the license settlement, Arvinas can also be eligible to obtain as much as a further $1.01 billion as contingent funds primarily based on specified growth, regulatory, and industrial milestones for ARV-766 being met, in addition to tiered royalties primarily based upon worldwide web gross sales of ARV-766.

Pipeline

ARV-102: Oral PROTAC LRRK2 degrader

• Offered preclinical knowledge on the Biennial Worldwide LRRK2 Assembly additional supporting the potential of PROTAC-induced leucine-rich repeat kinase 2 (LRRK2) degradation as a possible therapy for neurodegenerative ailments. Key findings included:
  • With Arvinas’ PROTAC LRRK2 degrader, near-complete LRRK2 goal engagement, in addition to LRRK2 degradation, in mouse and non-human primate lung and mind.
  • Differing results of the LRRK2 PROTAC degraders within the lungs in comparison with kinase inhibitors, suggesting decreased pulmonary operate threat.
    • Considerably much less Sort II pneumocyte enlargement in comparison with MLi-2, an experimental LRRK2 kinase inhibitor.
    • Surfactant protein accumulation in mouse lung noticed after therapy with the LRRK2 kinase inhibitor MLi-2, however not after therapy with the PROTAC LRRK2 degrader.
    • No proof of collagen deposition in lung so far with PROTAC LRRK2 degraders in non-human primates.
• Obtained well being authority approval to provoke the a number of ascending dose portion of the continued Part 1 medical trial in wholesome volunteers with the PROTAC LRRK2 degrader ARV-102.

ARV-393: Oral PROTAC BCL6 degrader

• Offered preclinical knowledge for ARV-393 on the European Hematology Affiliation 2024 Annual Congress that confirmed ARV-393:
  • Potently and quickly degraded the BCL6 protein and inhibited cell progress in diffuse giant B-cell lymphoma (DLBCL) and Burkitt cell strains.
  • Confirmed tumor progress inhibition, together with tumor regression, in numerous DLBCL cell line-derived xenograft (CDX) fashions and in a number of patient-derived xenograft (PDX) fashions of non-Hodgkin lymphoma (NHL), together with germinal heart B-cell-like (GCB), activated B-cell (ABC), GCB/ABC, BCL not in any other case specified (BCL/NOS) subtypes of DLBCL, and Burkitt lymphoma.
• Initiated the first-in-human Part 1 medical trial in sufferers with B-cell lymphomas with PROTAC BCL6 degrader ARV-393.

Company

• Introduced the appointment of Andrew Saik, MBA, to the position of Chief Monetary Officer.
• Introduced the promotion of Ian Taylor, Ph.D., to President of Analysis and Growth.
• Introduced the promotion of Angela Cacace, Ph.D., to Chief Scientific Officer.
• Introduced the promotion of Randy Teel, Ph.D., to Chief Enterprise Officer.

Anticipated Upcoming Milestones and Expectations

Vepdegestrant (ARV-471)
As a part of Arvinas’ international collaboration with Pfizer, the businesses plan to:

• Full enrollment (4Q24) and announce topline knowledge (4Q24/1Q25) for the VERITAC-2 Part 3 monotherapy medical trial.
• Consider knowledge from the research lead-in of the VERITAC-3 Part 3 trial to assist dose choice for vepdegestrant plus palbociclib in deliberate Part 3 mixture trials in sufferers with ER+/HER2- domestically superior or metastatic breast most cancers (2H24).
• Current preliminary security and pharmacokinetic knowledge from the abemaciclib arm of the continued TACTIVE-U trial (2H24).
• Proceed enrollment of the continued Part 1b/2 mixture umbrella trial evaluating combos of vepdegestrant with abemaciclib, ribociclib, or samuraciclib (TACTIVE-U; ClinicalTrials.gov Identifiers: NCT05548127, NCT05573555, and NCT06125522).
• Proceed enrollment and consider preliminary knowledge from the continued medical trial with vepdegestrant plus Pfizer’s novel CDK4 inhibitor atirmociclib (TACTIVE-Okay; ClinicalTrials.gov Identifier: NCT06206837) to tell the research design for the deliberate Part 3 first line mixture trial with both atirmociclib or palbociclib, with deliberate initiation in 2025.

Pipeline

• Proceed enrollment within the single ascending dose portion of the Part 1 medical trial in wholesome volunteers with the PROTAC LRRK2 degrader ARV-102 and start enrolling the a number of ascending dose portion by the top of 2024.
• Proceed enrollment within the first-in-human Part 1 medical trial in sufferers with B-cell lymphomas with PROTAC BCL6 degrader ARV-393.

Monetary Steerage
Primarily based on its present working plan, Arvinas believes its money, money equivalents, restricted money and marketable securities as of June 30, 2024, is adequate to fund deliberate working bills and capital expenditure necessities into 2027.

Second Quarter Monetary Outcomes
Money, Money Equivalents, Restricted Money and Marketable Securities Place : As of June 30, 2024, money, money equivalents, restricted money and marketable securities had been $1,234.2 million as in contrast with $1,266.5 million as of December 31, 2023. The lower in money, money equivalents, restricted money and marketable securities of $32.3 million for the six months ended June 30, 2024 was primarily associated to money utilized in operations of $36.0 million (web of $150.0 million obtained from the Novartis agreements), unrealized losses on marketable securities of $0.7 million and the acquisition of lab gear and leasehold enhancements of $0.8 million, partially offset by proceeds from the train of inventory choices of $5.3 million.

Analysis and Growth Bills: Analysis and growth bills had been $93.7 million for the quarter ended June 30, 2024, as in contrast with $103.4 million for the quarter ended June 30, 2023. The lower in analysis and growth bills of $9.7 million for the quarter was primarily because of decreases in bills associated to our ER program (which incorporates the price sharing of vepdegestrant below the Vepdegestrant (ARV-471) Collaboration Settlement with Pfizer) of $6.6 million and our platform and exploratory applications of $5.7 million, partially offset by a rise in our AR program (which incorporates ARV-766 and bavdegalutamide (ARV-110)) of $2.6 million.

Common and Administrative Bills: Common and administrative bills had been $31.3 million for the quarter ended June 30, 2024, as in contrast with $25.7 million for the quarter ended June 30, 2023. The rise typically and administrative bills of $5.6 million for the quarter was primarily because of a rise in personnel and infrastructure associated prices of $4.0 million {and professional} charges of $1.6 million.

Revenues: Revenues had been $76.5 million for the quarter ended June 30, 2024, as in contrast with $54.5 million for the quarter ended June 30, 2023. Income for the quarter is said to the license settlement and the asset buy settlement with Novartis, the Vepdegestrant (ARV-471) Collaboration Settlement with Pfizer, the collaboration and license settlement with Bayer, the collaboration and license settlement with Pfizer, and income associated to our Oerth Bio three way partnership. The rise in income of $22.0 million was primarily because of income from the Novartis agreements, which had been entered into in the course of the quarter, of $45.4 million, offset by a lower in income from the Vepdegestrant (ARV-471) Collaboration Settlement with Pfizer of $22.2 million and a lower of $1.3 million of beforehand constrained deferred income associated to our Oerth Bio three way partnership.

About Vepdegestrant
Vepdegestrant is an investigational, orally bioavailable PROTAC protein degrader designed to particularly goal and degrade the estrogen receptor (ER) for the therapy of sufferers with ER constructive (ER+)/human epidermal progress issue receptor 2 (HER2) unfavourable (ER+/HER2-) breast most cancers. Vepdegestrant is being developed as a possible monotherapy and as a part of mixture remedy throughout a number of therapy settings for ER+/HER2- metastatic breast most cancers.

In July 2021, Arvinas introduced a world collaboration with Pfizer for the co-development and co-commercialization of vepdegestrant; Arvinas and Pfizer will share worldwide growth prices, commercialization bills, and income.

The U.S. Meals and Drug Administration (FDA) has granted vepdegestrant Quick Observe designation as a monotherapy within the therapy of adults with ER+/HER2- domestically superior or metastatic breast most cancers beforehand handled with endocrine-based remedy.

About Arvinas
Arvinas (Nasdaq: ARVN) is a clinical-stage biotechnology firm devoted to bettering the lives of sufferers affected by debilitating and life-threatening ailments. By means of its PROTAC ^® (PROteolysis Focusing on Chimera) protein degrader platform, the Firm is pioneering the event of protein degradation therapies designed to harness the physique’s pure protein disposal system to selectively and effectively degrade and take away disease-causing proteins. Arvinas is at present progressing a number of investigational medication by medical growth applications, together with vepdegestrant, focusing on the estrogen receptor for sufferers with domestically superior or metastatic ER+/HER2- breast most cancers; ARV-102, focusing on LRRK2 for neurodegenerative issues; and ARV-393, focusing on BCL6 for relapsed/refractory non-Hodgkin Lymphoma. Arvinas is headquartered in New Haven, Connecticut. For extra details about Arvinas, go to www.arvinas.com and join on LinkedIn and X .

Ahead-Trying Statements
This press launch incorporates forward-looking statements inside the which means of The Non-public Securities Litigation Reform Act of 1995 that contain substantial dangers and uncertainties, together with statements relating to the anticipated timing in reference to the completion of enrollment and readout of topline knowledge from the VERITAC-2 medical trial, submission of Arvinas’ first new drug utility submitting and transition to a commercial-stage firm, assuming regulatory approval, the supply and timing of information from different medical trials, the receipt of milestone and royalty funds in reference to the transaction with Novartis and the long run growth, potential advertising approval and commercialization of ARV-766, the potential of Arvinas’ PROTAC protein degrader platform and its potential to ship new remedies, Arvinas’ and Pfizer’s plans to find out the really helpful palbociclib dose to be mixed with vepdegestrant within the deliberate Part 3 mixture trials in sufferers with ER+/HER2- domestically superior or metastatic breast most cancers, and statements relating to Arvinas’ money, money equivalents, restricted money and marketable securities. All statements, aside from statements of historic reality, contained on this press launch, together with statements relating to Arvinas’ technique, future operations, future monetary place, future revenues, projected prices, prospects, plans and goals of administration, are forward-looking statements. The phrases “anticipate,” “imagine,” “estimate,” “count on,” “intend,” “could,” “may,” “plan,” “predict,” “undertaking,” “goal,” “potential,” “will,” “would,” “may,” “ought to,” “proceed,” and comparable expressions are supposed to determine forward-looking statements, though not all forward-looking statements comprise these figuring out phrases.

Arvinas could not truly obtain the plans, intentions or expectations disclosed in these forward-looking statements, and you shouldn’t place undue reliance on such forward-looking statements. Precise outcomes or occasions may differ materially from the plans, intentions and expectations disclosed within the forward-looking statements Arvinas makes on account of numerous dangers and uncertainties, together with however not restricted to: Arvinas’ and Pfizer’s efficiency of the respective obligations with respect to Arvinas’ collaboration with Pfizer; whether or not Arvinas and Pfizer will have the ability to efficiently conduct and full medical growth for vepdegestrant; whether or not Arvinas will have the ability to efficiently conduct and full growth for its different product candidates and together with whether or not Arvinas initiates and completes medical trials for its product candidates and obtain outcomes from its medical trials on its anticipated timelines or in any respect; whether or not Arvinas and Pfizer, as acceptable, will have the ability to acquire advertising approval for and commercialize vepdegestrant and different product candidates on present timelines or in any respect; Arvinas’ and Novartis’ efficiency of their respective obligations below the license settlement; whether or not Novartis will have the ability to efficiently conduct and full medical growth, acquire advertising approval for and commercialize ARV-766; Arvinas’ means to guard its mental property portfolio; whether or not Arvinas’ money and money equal sources shall be adequate to fund its foreseeable and unforeseeable working bills and capital expenditure necessities, and different essential elements mentioned within the “Danger Elements” part of Arvinas’ Annual Report on Kind 10-Okay for the 12 months ended December 31, 2023 and subsequent different studies on file with the U.S. Securities and Trade Fee. The forward-looking statements contained on this press launch replicate Arvinas’ present views with respect to future occasions, and Arvinas assumes no obligation to replace any forward-looking statements, besides as required by relevant legislation. These forward-looking statements shouldn’t be relied upon as representing Arvinas’ views as of any date subsequent to the date of this launch.

Contacts
Traders:
Jeff Boyle
+1 (347) 247-5089
Jeff.Boyle@arvinas.com

Media:
Kirsten Owens
+1 (203) 584-0307
Kirsten.Owens@arvinas.com