logo
Share SHARE
FONT-SIZE Plus   Neg

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
AIG reported a plunge in second-quarter profit, hurt by a decline at its insurance business, debt-related losses and lower gains from the sale of investments. However, its earnings topped Street estimates, partly on contribution from aircraft leasing giant AerCap. AIG also announced a boost in dividend and said it would buyback an additional $5 billion stock. Automakers on Monday reported strong U.S. vehicle sales for the month of July, driven by continued demand for trucks and sport-utility vehicles amid an improving economy, lower gas prices and easy availability of credit. Detroit's Big Three - General Motors Co., Ford Motor Co. and FCA US, LLC - all reported vehicle sales above analyst expectations. 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.
comments powered by Disqus
Follow RTT