Aveo Pharmaceuticals announces $2M payment for commercialization of Fotivda
AVEO Oncology announced the triggering of a $2M milestone payment to AVEO from EUSA Pharma. The milestone payment relates to the reimbursement approval and commercial launch in Spain of FOTIVDA as a first line treatment of adult patients with advanced renal cell carcinoma. Commercial launch in Spain is the third of five EU5 country launches to trigger a $2 million payment under the terms of AVEO's license agreement with EUSA Pharma. In the European Union, Norway and Iceland, tivozanib is indicated for the first line treatment of adult patients with RCC and for adult patients who are vascular endothelial growth factor receptor and mTOR pathway inhibitor-naive following disease progression after one prior treatment with cytokine therapy for RCC.