Merck KGaA: transfers rights of CAR-T cancer therapies
(CercleFinance.com) - Germany's Merck KGaA said on Thursday that it has agreed to transfer development rights of its CAR-T cancer therapies to US biotech firm Intrexon.
The agreement with Intrexon enables Merck "to continue to implement its focused R&D strategy, while maintaining an investment in the future potential of next-generation CAR-T development," the company said.
Under the terms of the agreement, Merck will receive Intrexon shares amounting to 150 million dollars in exchange for the rights. The deal also includes a further 25 million dollars investment in cash.
In addition, Merck will receive a 25 million dollar convertible note.
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The agreement with Intrexon enables Merck "to continue to implement its focused R&D strategy, while maintaining an investment in the future potential of next-generation CAR-T development," the company said.
Under the terms of the agreement, Merck will receive Intrexon shares amounting to 150 million dollars in exchange for the rights. The deal also includes a further 25 million dollars investment in cash.
In addition, Merck will receive a 25 million dollar convertible note.
Copyright (c) 2018 CercleFinance.com. All rights reserved.