From the July announcement it could be Merck funding this round!!
GERON ENTERS INTO A COLLABORATION AND LICENSE AGREEMENT WITH MERCK & CO., INC. FOR CANCER VACCINES TARGETING TELOMERASE
Menlo Park, CA – July 18, 2005 – Geron Corporation (Nasdaq: GERN) announced today it has entered into a collaboration and license agreement with Merck & Co., Inc. (NYSE: MRK) to develop a cancer vaccine targeting telomerase utilizing Merck’s expertise in vaccine technologies.
Under the terms of the agreement, Geron will receive an upfront payment, milestone payments upon achievement of certain development and regulatory events, and royalties. Merck has also agreed to acquire equity in Geron at a future date as part of Geron’s next round of financing. Additional financial terms were not disclosed.
In addition, Merck has acquired an exclusive option to negotiate a separate agreement for Geron’s dendritic cell-based telomerase vaccine currently in Phase I/II clinical trials at Duke University Medical Center. Geron will receive an option payment from Merck in consideration for the option. The structure and terms of an agreement for the dendritic cell vaccine will be negotiated should Merck exercise its rights under the option.
“This alliance reflects Merck’s recognition of telomerase as an important cancer target and Geron’s recognition of the strength of Merck’s vaccine platform,” said Thomas Okarma, M.D., Ph.D., Geron’s president and chief executive officer. “Our decision to collaborate with Merck was an easy one to make. In the course of our discussions, we have been impressed with Merck’s focus and commitment to developing cancer vaccines.”
Geron and Merck have jointly developed a research and development plan to optimize and expedite the demonstration of efficacy and tolerability of a potential vaccine against telomerase using Merck’s platform. Meanwhile, Geron will continue development of its dendritic cell-based vaccine product, which is currently in Phase I/II clinical trials and is the subject of the exclusive option obtained by Merck.
“We at Merck are excited about what Geron has demonstrated with telomerase in cancer. Our objective is to combine our technologies with the hope of bringing a product to market that may have application across a large number of cancers,” said Stephen Friend, M.D., Ph.D., executive vice president, Advanced Technology and Oncology at Merck Research Laboratories. “This is a project of high interest and commitment at Merck, and is indicative of Merck’s strategic direction in developing new anti-cancer therapies.”
