Bayer and Arvinas Unveil Targeted Protein Degradation Joint Venture, Oerth Bio
- Oerth Bio to utilize Arvinas’ PROTAC® technology to develop innovative new agricultural products to improve crop yields
- John Dombrosky Announced as CEO of Oerth Bio
- Transaction had been formally closed on
“We are incredibly excited to be a part of this first exploration of PROTAC® technology in agriculture,” said
Oerth Bio will be supported by intellectual property and over
“At Arvinas, we believe Oerth Bio has the potential to extend the power of our PROTAC® technology into agricultural science, where we hope it will significantly impact the resilience and durability of our food supply,” said
“I’m excited to become part of the team at Oerth Bio, which is being built to leverage the natural attributes of PROTAC® protein degraders, the immense chemistry know-how at
Prior to joining Oerth Bio, Dombrosky was the CEO of AgTech Accelerator which sourced, formed, and actively managed emerging big-vision agtech startups with a leading syndicate of investors. Prior to AgTech Accelerator, John served in multiple executive roles at Syngenta, Thomson Reuters, and
In launching Oerth Bio, Bayer and
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population. At the same time, the Group aims to increase its earning power and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2018, the Group employed around 117,000 people and had sales of
Arvinas is a clinical-stage biopharmaceutical company dedicated to improving the lives of patients suffering from debilitating and life-threatening diseases through the discovery, development, and commercialization of therapies that degrade disease-causing proteins. Arvinas uses its proprietary technology platform to engineer proteolysis-targeting chimeras, or PROTAC® targeted protein degraders, that are designed to harness the body’s own natural protein disposal system to selectively and efficiently degrade and remove disease-causing proteins. The company’s initial clinical program, ARV-110 for the treatment of patients with metastatic castrate-resistant prostate cancer, began a Phase 1 clinical trial in the first quarter of 2019. A Phase 1 clinical study of ARV-471, in development for the treatment of patients with locally advanced or metastatic ER positive / HER2 negative breast cancer, began in in the third quarter of 2019. For more information, visit www.arvinas.com.
This press release contains forward-looking statements that involve substantial risks and uncertainties, including statements regarding the potential benefits of the joint venture in the agricultural field, the potential advantages and therapeutic potential of its product candidates and the sufficiency of cash resources. All statements, other than statements of historical facts, contained in this press release, including statements regarding our strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.
We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make as a result of various risks and uncertainties, including but not limited to: each of Bayer’s and Arvinas’ ability to perform its obligations under the joint venture and other important factors discussed in the “Risk Factors” sections contained in our quarterly and annual reports on file with the Securities and Exchange Commission. The forward-looking statements contained in this press release reflect our current views with respect to future events, and we assume no obligation to update any forward-looking statements except as required by applicable law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this release.
Source: Arvinas Inc.