Clovis sells off remaining assets—including cancer drug Rubraca—for $70M-plus

Four months after filing for bankruptcy, Clovis Oncology has found a buyer for its remaining assets including the rights to ovarian cancer drug Rubraca.

Pharma& Schweiz GmbH of Switzerland submitted the highest bid at an auction on March 30, Clovis said (PDF) in an SEC filing. The agreement is for $70 million up front, plus an additional $50 million tied to regulatory milestones and $15 million in sales-related milestones.