If THLD can partner why can't we??!!
Merck KGaA, Threshold To Co-Develop, Commercialize TH-302 Drug
Last update: 2/3/2012 5:45:22 AM
FRANKFURT (Dow Jones)--German chemical and pharmaceutical company Merck KGaA (MRK.XE) Friday signed a global agreement with Threshold Pharmaceuticals Inc. (THLD) to co-develop and commercialize TH-302, Threshold's small molecule hypoxia-targeted drug, used to treat certain kinds of cancer.
TH-302 is currently undergoing a Phase III clinical trial in patients with soft tissue sarcoma, a rare group of tumors that develop in the soft, supporting tissues of the body. The drug is also undergoing a randomized Phase II trial in patients with advanced pancreatic cancer, as well as clinical studies in other solid tumors and hematological malignancies, the companies said in a statement.
Merck KGaA will receive co-development rights and exclusive global commercialization rights, and will provide Threshold with an option to co-commercialize the drug in the U.S. In exchange, Threshold will receive an upfront payment of EUR19 million, along with further potential milestone payments.
The potential milestone payments total $525 million, with about $280 million in regulatory and development milestones and $245 million in sales-based milestones, Threshold Pharma said in a separate statement.
In the U.S., Threshold will be responsible for the development of TH-302 in the soft tissue sarcoma indication, while both companies will jointly develop the drug in all other cancer indications. Merck KGaA will pay 70% of worldwide development costs for TH-302.
-By Neetha Mahadevan, Dow Jones Newswires; +49 69 2972 5507; neetha.mahadevan@dowjones.com
(END) Dow Jones Newswires
February 03, 2012 05:45 ET (10:45 GMT)
