GlaxoSmithKline will partner with Merck KGaA, Darmstadt, to co-develop and co-commercialize the cancer immunotherapy candidate M7824 (bintrafusp alfa), through a collaboration that could generate more than €3.7 billion ($4.2 billion) for German Merck.
Source: www.genengnews.com
Merck KGaA and GlaxoSmithKline will collaborate to develop and commercialize a new cancer immunotherapy candidate M7824. This new development will be a bi-functional protein with the ability to cure various forms of cancer. Merck will receive an upfront payment of Euro 300 million and is eligible for potential development milestone payments of ~ Euro 500 million. Addtionally, further payments will be provided upon achieving future approval and commercial milestones of ~Euro 2.9 billion. The total potential deal value is around Euro 3.7 billion. In the collaboration, both the Companies will share profits and expenses equally.
