Monday, Merus N.V. (MRUS) has entered into a global non-exclusive collaboration and license agreement regarding Halozyme Therapeutics, Inc.'s ENHANZE drug delivery technology.
Under the collaboration, the company has licensed the technology for the development and potential commercialization of subcutaneous administration of petosemtamab, which has showed encouraging data in the clinical studies across numerous solid tumor cancers and has the potential to become a first and best in class treatment in head and neck cancer and beyond.
As per the terms of the deal, Merus will make an upfront payment to Halozyme, and potential future milestone payments related to commercial and sales attainment, if approved.
Moreover, Halozyme will also be entitled to up to low-mid single digit royalties on net sales of petosemtamab formulated with the ENHANZE technology during the royalty term.
On November 14, MRUS closed trading at $95.95, down 0.14 percent on the Nasdaq.
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