Merck: acquires exclusive license from LaNova Medicines

(CercleFinance.com) - Merck announces that it has acquired an exclusive license from LaNova Medicines to develop, manufacture and commercialize LM-299, a bispecific antibody (PD-1/VEGF) from LaNova.


"This agreement enhances our growing oncology pipeline, and we look forward to advancing LM-299 for patients in need," commented Dr. Dean Y. Li, President of Merck Research Laboratories. Li, President of Merck Research Laboratories.

Under the terms of the agreement, Merck will make an upfront payment of $588 million to LaNova, which may receive up to $2.7 billion in milestone payments based on the development progress, regulatory approval and commercialization of LM-299.

The transaction will be subject to regulatory approval and is expected to close in the fourth quarter of 2024.


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