logo
Plus   Neg
Share
Email
Comment

Merck KgaA Inks License Agreement With Symphogen On Sym004 - Update

Merck KGaA (MKGAY.PK) said Thursday that an exclusive worldwide license agreement was signed with Copenhagen, Denmark-based Symphogen A/S for Sym004, an investigational antibody mixture targeting the epidermal growth factor receptor or EGFR.

As per the agreement, Merck will gain exclusive worldwide rights to develop and commercialize Sym004 and will pay Symphogen 20 million euros upfront. Merck will also make payments to Symphogen for clinical development, regulatory and sales performance milestones. Symphogen will also be eligible for potential royalties on net worldwide sales.

Sym004 is comprised of two antibodies that are designed to block ligand binding, receptor activation and downstream signaling. They are also thought to elicit removal of the EGFR receptors from the cancer cell surface by inducing EGFR internalization and degradation.

Sym004 is currently being evaluated in a Phase I/II trial for the treatment of patients with advanced KRAS wild-type metastatic colorectal cancer or mCRC, who have previously progressed on treatment with standard chemotherapy and a marketed anti-EGFR monoclonal antibody.

Additionally, a single-arm, open-label Phase II trial in patients with squamous cell carcinoma of the head and neck, or SCCHN, who have failed anti-EGFR-based therapy is currently in progress.

Dr. Susan Jane Herbert, Head of Global Business Development and Strategy for the Merck Serono division, said, "Sym004 further strengthens our early development pipeline by adding a product that is thought to act via a proposed synergistic mechanism of action not previously studied, but more specifically, it has the potential to become a key asset complementing our already highly successful Erbitux franchise."

The stock closed up 0.79 percent in Frankfurt on Wednesday at 91.65 euros.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Google plans to commission three underwater cables in 2019 as part of efforts to expand its cloud business amid stiff competition from rivals Microsoft and Amazon. The three fiber-optic subsea cables will run across different routes. Google noted that it has spent $30 billion to improve its infrastructure over three years. McDonald's Corp. said Tuesday that all of its packaging worldwide will come from renewable, recycled or certified sources by 2025, up from the current figure of 50 percent. The fast food giant also aims to recycle guest packaging in all its restaurants by then, compared with only 10 percent of its restaurants currently. General Electric Co. (GE) will take an after-tax charge of $6.2 billion in its fourth quarter results as part of comprehensive review of its finance arm's insurance portfolio. The after-tax charge will be $7.5 billion when adjusted to the rate following the recent U.S. tax overhaul.
comments powered by Disqus
Follow RTT