- 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.
Recommended For You
More Trending News
See More »