Merck in pact with Finish pharma Orion Corporation for cancer agents

Sundry Photography/iStock Editorial via Getty Images

• Merck (NYSE:MRK) and Finnish pharmaceutical company Orion Corporation announced an agreement on Wednesday to develop and commercialize cancer agents targeted at cytochrome P450 11A1, an enzyme important for steroid production.
• The global development and commercialization agreement includes Orion’s experimental candidate ODM-208, an oral therapy developed for the treatment of hormone-dependent cancers, such as prostate cancer.
• Per the terms, Orion and Merck (MRK) will jointly develop and commercialize ODM-208, and Orion will be entitled to receive $290M as an upfront payment from Merck (MRK) during 3Q 2022. The production of clinical and commercial supply of ODM-208 rests with Orion.
• Two parties will also have an option to convert the initial agreement into a global exclusive license to Merck (MRK), following which, Orion will be eligible to receive milestone payments and tiered double-digit royalties on sales related to ODM-208.

• Read: Merck (MRK) is in advanced talks to acquire the cancer focused biotech Seagen (SGEN), according to recent media reports.