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Merck Inks $3.3B Licensing Deal With Chinese Biotech for Cancer Therapy
MRKMerck(MRK) ZACKS·2024-11-15 20:40

Merck (MRK) announced that it has entered into an exclusive licensing deal with China-based privately-held biotech company LaNova Medicines for the latter’s PD-1xVEGF targeting bispecific antibody candidate, LM-299.Per the terms of the deal, Merck will acquire the global rights to develop and market LM-299. In return, LaNova will receive an upfront cash payment of 588million.Inaddition,Merckwillhavetopayupto588 million. In addition, Merck will have to pay up to 2.7 billion in milestone payments to LaNova.The deal is expected to be closed by the end ...