Merck Closes Global License Deal for LM-299 with LaNova Medicines

MT Newswires Live2024-12-20

Merck (MRK) said Friday it has closed the exclusive global license agreement for LM-299, an investigational PD-1/VEGF bispecific antibody, from LaNova Medicines.

As previously announced, Merck will develop, manufacture and commercialize LM-299.

Merck said it will record a pre-tax charge of $588 million, or about $0.18 per share, in Q4 results related to the upfront payment.

LaNova is also eligible for up to $2.7 billion in milestone payments tied to the technology transfer, development, regulatory approval, and commercialization of LM-299 across multiple indications, including $300 million upon technology transfer anticipated to be completed in 2025, Merck said.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment