Press Release June 10, 2019

Arvinas and Bayer to Collaborate on Human PROTAC® Therapies and Launch a Separate Joint Venture to Develop Agricultural PROTAC® Applications

The Life Sciences team advised Arvinas, Inc. (Nasdaq: ARVN) on an agreement with Bayer to jointly launch a new company to leverage Arvinas’ PROTAC® technology for agricultural applications. In addition, Bayer and Arvinas entered into an agreement to leverage Arvinas’ novel PROTAC® protein degrader technology to develop new human therapeutics for patients with cardiovascular, oncological and gynecological diseases. The overall series of arrangements includes over $110 million in upfront cash and committed funding for the human disease collaboration, the agricultural joint venture, and a direct equity investment by Bayer in Arvinas.

Arvinas is a biopharmaceutical company creating a new class of therapies to degrade disease-causing proteins. The multi-faceted deal will extend the application of targeted protein degradation to new therapeutic areas and outside human biology. It leverages Arvinas’ expertise in targeted protein degradation, a field the company has led since its founding in 2013, and Bayer’s decades of experience in developing both human therapies and innovative, sustainable agricultural technologies.

The Goodwin team was led by Jason Breen and Karen Spindler, and included partners Robert PuopoloDan Karelitz and Rich Matheny, counsel Nicole Daley, and associates Patricia Mann, Jonathan LaPlante and Justin Pierce.

For more details on the agreement, read the press release and articles in Xconomy, BioSpace and FierceBiotech.