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AVEO regains rights to potential cancer drug

September 30, 2010

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CAMBRIDGE, Mass.—AVEO Pharmaceuticals Inc. said Thursday it regained rights to a potential cancer therapy from Merck & Co.

The company said it regained rights to AV-299, which is now in midstage development as a potential lung cancer treatment.

AVEO received an $8.5 million payment from Merck for initiating that study, which is expected to produce data in late 2011.

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