Merck: acquires experimental product from Curon
(CercleFinance.com) - Merck announces that it has entered into a definitive agreement with Curon Biopharmaceutical to acquire its CN201, a novel, clinical-stage, investigational bispecific antibody for the treatment of B-cell diseases.
Under the agreed terms, Merck will acquire full worldwide rights to CN201 for an upfront payment of $700m, with Curon eligible to receive up to $600m in development and regulatory milestone payments.
CN201 is currently in Phase 1 and Phase 1b/2 clinical trials for the treatment of patients with relapsed or refractory forms of non-Hodgkin's lymphoma (NHL) and B-cell acute lymphocytic leukemia (ALL), respectively.
Subject to customary conditions, the transaction is expected to close in Q3 and result in a pre-tax charge of around $750m, or approximately $0.28 per share, to be included in the group's non-GAAP results.
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Under the agreed terms, Merck will acquire full worldwide rights to CN201 for an upfront payment of $700m, with Curon eligible to receive up to $600m in development and regulatory milestone payments.
CN201 is currently in Phase 1 and Phase 1b/2 clinical trials for the treatment of patients with relapsed or refractory forms of non-Hodgkin's lymphoma (NHL) and B-cell acute lymphocytic leukemia (ALL), respectively.
Subject to customary conditions, the transaction is expected to close in Q3 and result in a pre-tax charge of around $750m, or approximately $0.28 per share, to be included in the group's non-GAAP results.
Copyright (c) 2024 CercleFinance.com. All rights reserved.