Idera Pharmaceuticals, Inc. (IDRA) said it has achieved a milestone under its worldwide licensing and collaboration agreement with Merck KGaA (MKGAY.PK). The milestone was achieved upon initiation of a Phase 2 trial by Merck KGaA of EMD 1201081, a novel agonist of Toll-like Receptor 9, or TLR9, in combination with cetuximab in second-line cetuximab-naive patients with recurrent or metastatic squamous cell carcinoma of the head and neck.
Under the terms of the agreement, the company is entitled to receive a payment of EUR 3.0 million from Merck KGaA.
The company expects to receive the milestone payment of EUR 3.0 million from Merck KGaA during the first quarter of 2010. The clinical trial is being conducted in eight countries, including the U.S.
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