Clovis Oncology (CLVS) Enters First Amended with Pfizer Over Licensing Agreement

August 30, 2016 4:15 PM EDT

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Clovis Oncology (Nasdaq: CLVS) disclosed the following on Tuesday:

Item 1.01 Entry into a Material Definitive Agreement.

On August 30, 2016, Clovis Oncology, Inc. (“Clovis”) entered into the First Amendment to License Agreement (the “First Amendment”), between Clovis and Pfizer, Inc. (“Pfizer”). The First Amendment amends the existing License Agreement, between Clovis and Pfizer, dated June 2, 2011, to permit Clovis to defer payment of the milestone payments payable upon (i) FDA approval of an NDA for 1st Indication in US and (ii) EMA approval of an MAA for 1st Indication in EU, to a date that is 18 months after the date of achievement of such milestones. In the event that Clovis defers such milestone payments, Clovis has agreed to certain higher payments related to the achievement of such milestones.

The above summary is qualified in its entirety by reference to the First Amendment, a copy of which will be filed as an exhibit to Clovis’ next applicable periodic report or registration statement. Clovis intends to submit a Confidential Treatment Request to the SEC pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended, requesting confidential treatment of the specific milestone payment amounts payable in connection with such deferment disclosed in the First Amendment.

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