F-star Therapeutics : Merck KGaA Exercises Fourth Licensing Option In Immuno-Oncology Collaboration

F-star Therapeutics Inc. (FSTX) said that Ares Trading S.A., an affiliate of Merck KGaA, Darmstadt, Germany has exercised a fourth licensing option to develop another bispecific program under the ongoing immuno-oncology collaboration.

As per the terms of the deal, Merck KGaA will be responsible for all future development and commercialization costs and will pay future success-based milestones and royalties on any net sales, resulting from programs covered by the agreement.

In May of 2019, Merck KGaA exercised its option to bring a first program from the collaboration into its pipeline.

In July 2020, Merck KGaA took an early option to a second program and in March 2021, a third option was exercised.

With the fourth option now exercised, the total potential remaining milestone-based revenue due to F-star from this immuno-oncology collaboration with Merck KGaA is approximately $765 million.

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