Arvinas Achieves First-Ever FDA Approval for a PROTAC Therapy
On August 4, Arvinas Inc. (NASDAQ:ARVN) announced its first-ever FDA approval of VEPPANU (vepdegestrant), the world's first heterobifunctional protein degrader therapy known as a PROTAC. The drug is approved for adults with ER+/HER2-negative breast cancer who have ESR1 mutations and progressed on prior endocrine therapies. The FDA approval was accompanied by licensing rights transferred to Rigel Pharmaceuticals, which will handle global development, manufacturing, and commercialization of VEPPANU. This deal generated $50 million in milestone revenue and $62.5 million in license revenue for Arvinas during the second quarter of 2026. Arvinas also reported a significant increase in quarterly revenue to $249.7 million, up from $22.4 million year-over-year, largely driven by this approval and ongoing collaborations like its original agreement with Pfizer.
Topics: biotech pharmaceuticals protac therapy protein degraders