logo
Share SHARE
FONT-SIZE Plus   Neg

Merck Enters Pact With Endocyte To Develop And Commercialize Vintafolide

Merck (MRK) Monday announced that it has entered into an exclusive worldwide agreement with Endocyte Inc (ECYT) to develop and commercialize Vintafolide,

Vintafolide is Endocyte's novel investigational therapeutic candidate that is being currently evaluated in a Phase III clinical trial for platinum-resistant ovarian cancer, and in a Phase II trial for non-small cell lung cancer.

As per the terms of the agreement, Endocyte will receive a $120 million upfront payment and is eligible for milestone payments of up to $880 million based on the successful achievement of development, regulatory and commercialization goals for vintafolide for a total of six cancer indications.

For its part, Merck, through a subsidiary unit, will be vested with worldwide rights to develop and commercialize Vintafolide.

"Vintafolide is a promising and innovative late-stage cancer drug candidate. In addition to pursuing the lead indication of platinum-resistant ovarian cancer, Merck plans to further evaluate its potential for treatment of multiple other cancer types," said Peter S. Kim, executive vice president and president Merck Research Laboratories. "This agreement underscores our strategy of building a portfolio of oncology therapeutics that employ a companion diagnostic to facilitate selection of those patients most likely to respond to treatment."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
British lender Lloyds Banking Group Plc. Friday reported higher profit in its first half, benefited by increased net interest income and margin as well as lower impairment. Looking ahead, the company lifted its net interest margin forecast. Amgen reported an increase in second-quarter profit, driven by sales of arthritis drug Enbrel and osteoporosis treatments Xgeva and Prolia, and improved margins. Both earnings and sales topped Wall Street estimates. Electronic Arts Inc. (EA) on Thursday reported an increase in profit for the first quarter, reflecting continued strong digital revenues, with both earnings and revenues topping Wall Street estimates. However, shares of the company fell over 4 percent, after having detailed a weak outlook. Redwood...
comments powered by Disqus
RELATED NEWS
Trade MRK now with 
Follow RTT