- Mersana Therapeutics Inc (NASDAQ:MRSN) signed a deal for developing antibody-drug conjugates (ADCs) for cancer treatment with Germany’s Merck KGaA (OTC:MKGAF) (OTC:MKKGY).
- Mersana would receive $30 million in an upfront payment and up to $800 million in development, regulatory and commercial milestones.
- Related: Mersana, GSK Ink $1.36B Biobuck Deal For Cancer-Focused Therapy.
- Under the agreement, Mersana would develop cancer drug candidates against up to two targets that would utilize its platform to combine Merck KGaA’s proprietary antibodies.
- Pre-clinical activities will be split between the companies. Merck Germany will be solely responsible for all clinical development and potential commercialization activities relating to any resulting product candidates.
- Mersana said it was also eligible to receive royalties of up to low double-digit percentages on global net sales for any approved ADCs developed under the agreement.
- Price Action: MRSN shares are down 2.68% at $5.82 on the last check Friday.
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