Merck KGaA: signs deal to boost oncology pipeline
(CercleFinance.com) - Germany's Merck said on Thursday that it has struck a three-year collaboration deal with UK biotech Artios to develop precision oncology drugs.
Under the terms of the agreement, Merck will have exclusive worldwide rights to market selected therapeutics discovered under the partnership.
In exchange, Artios will receive an upfront and near-term payment of 30 million dollars.
If Merck chooses to exercise the option, Artios will also be eligible to receive up to 860 million dollars per target, in addition to royalty payments on sales of each product commercialized by the German drugmaker.
Artios, an expert in DNA repair, targets hard-to-treat cancers and is backed by blue chip investors such as AbbVie, Novartis and Pfizer.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Under the terms of the agreement, Merck will have exclusive worldwide rights to market selected therapeutics discovered under the partnership.
In exchange, Artios will receive an upfront and near-term payment of 30 million dollars.
If Merck chooses to exercise the option, Artios will also be eligible to receive up to 860 million dollars per target, in addition to royalty payments on sales of each product commercialized by the German drugmaker.
Artios, an expert in DNA repair, targets hard-to-treat cancers and is backed by blue chip investors such as AbbVie, Novartis and Pfizer.
Copyright (c) 2020 CercleFinance.com. All rights reserved.