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The Boston Globe

Business

Aveo suffers new setback on kidney cancer drug

Japanese partner backs away from plan to seek European approval of drug

Aveo Pharmaceuticals Inc., already reeling from an advisory panel recommendation early this month that US regulators reject its kidney cancer drug, has suffered a new setback.

In a regulatory filing, the Cambridge biotechnology company told investors its Japanese partner, Astellas Pharma Inc., has pulled out of an agreement to seek approval of the Aveo drug candidate, called tivozanib, in Europe. The drug treats renal cell carcinoma, a type of kidney cancer that kills tens of thousands of people worldwide every year.

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