Pfizer to acquire 6.6% stake in Arnivas for $350m.

Pfizer, a pharmaceutical and biotechnology corporation, agreed to acquire 6.6% stake in Arnivas, a clinical-stage biopharmaceutical company, for $350m. “This collaboration has the potential to be transformational, as it combines our leadership in targeted protein degradation with Pfizer’s global capabilities and deep expertise in breast cancer. This should significantly enhance and accelerate the development and potential commercialization of ARV-471 while also advancing Arvinas’ strategy of building a global, integrated biopharmaceutical company,” John Houston, Arvinas CEO.