By Colin Kellaher

 

Arvinas Inc. (ARVN) Tuesday said it will collaborate with Bayer AG (BAYN.XE) to develop new human therapeutics for patients with cardiovascular, oncological and gynecological diseases and will launch a joint venture with the German chemical-and-pharmaceutical company to develop targeted protein degraders for agricultural applications.

Arvinas, a New Haven, Conn., biopharmaceutical company, said the deal includes more than $110 million in upfront cash and committed funding for the collaboration, the venture and a direct equity investment by Bayer.

Trading in shares of Arvinas, which closed Monday at $20.05, was halted premarket Tuesday.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

June 04, 2019 07:23 ET (11:23 GMT)

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