Biotech Values

[DewDiligence]

GSK, Merck KGaA ink development deal for bi-specific, M7824:

https://www.marketwatch.com/story/glaxosmithkline-and-merck-kgaa-to-strike-immunotherapy-deal-worth-up-to-423-billion-2019-02-05

…M7824…is a bifunctional antibody designed to simultaneously target two pathways in the body that serve as immune checkpoints: one that involves a protein called transforming growth factor-ß and another involving the programmed death ligand-1 (PD-L1).

Under the terms of the deal, Merck KGaA will receive an upfront payment of €300 million, or $342.75 million, and will be eligible for potential development milestone payments of up to €500 million, or $571.25 million. Merck KGaA will also be eligible for further payments upon approval and commercial milestones of up to €2.9 billion, or $3.31 billion, for a total potential deal value up to €3.7 billion, or $4.23 billion.

Both GSK and Merck KGaA will be involved in development and commercialization, and all profits and costs will be shared equally…