News

Merck cooperates with Symphogen
Enlarge image

BusinessGermanyDenmark

Merck cooperates with Symphogen

07.09.2012 - German Merck KGaA enters a license deal worth up to €495m with Danish Symphogen to receive exclusive rights to a Phase II cancer drug

Symphogen's Sym004 is a recombinant IgG1 antibody product consisting of two antibodies targeting the epidermal growth factor receptor (EGFR). It is currently being evaluated in a Phase I/II trial for the treatment of patients with advanced KRAS wild-type metastatic colorectal cancer (mCRC) as a second-line treatment. In addition, a single-arm, open-label Phase II trial is on-going in patients with squamous cell carcinoma of the head and neck (SCCHN) who have failed anti-EGFR-based therapy.

Under the terms of the agreement, Merck will pay Symphogen €20m upfront. The Danish antibody specialist is also eligible to receive up to €225m for clinical development and regulatory milestones, €250m in potential combined sales performance milestones as well as royalties on net worldwide sales. In exchange, Merck will gain exclusive worldwide rights to develop and commercialise Sym004. 

Sym004 is designed to block ligand binding, receptor activation and downstream signalling. The antibodies are also thought to elicit removal of the EGFR receptors from the cancer cell surface by inducing EGFR internalisation and degradation. Merck says it sees the program as a natural extension of its Erbitux franchise.

The German pharma giant has come under pressure lately, as important R&D projects, like the oral MS treatment Cladribine, failed. In the wake of the setbacks, it decided to start a major restructuring programme. Merck decided to close down its Merck Serono headquarter in Geneva and lately announced to lay off 1,100 employees in Germany.

http://www.european-biotechnology-news.com/news/news/2012-03/merck-cooperates-with-symphogen.html

New reportEU

25.11.2014 The European biotech IPO slump has finally come to an end. A brand new industry report shows that compared to previous years, the number of biotech IPOs more than doubled in 2014, with London and Paris exchanges leading the pack.

M&AIreland

19.11.2014 It’s not every day that a company is pushed into the top ten of its sector, but that day has come for Actavis. Christmas came early for the new pharma giant after completing a US$66bn (€53bn) takeover battle for the Botox manufacturer Allergan.

Drug DevelopmentGermany

18.11.2014 Merck KGaA and US rival Pfizer have signed a immuno-oncology alliance worth billions: Merck will share the development and commercialisation of its cancer antibody with its US partner – for €2.3bn.

FinanceFrance

14.11.2014 Cosily coinciding with World Diabetes Day on 14th November, French biopharma Les Laboratories Servier has struck a US$1bn deal with US pharma Intarcia Therapeutics for the exclusive rights to Intarcia’s unprecedented therapy for type 2 diabetes.

AwardsFranceGermanySweden

12.11.2014 Glitz and glamour are not words often used to describe science and mathematics. But once a year, celebrities from the science and showbiz world come together at the Breakthough Prizes, a glitzy television bash that honours scientists for their achievements. French life scientist Emmanuelle Charpentier was among this year’s winners.

ResearchEU

10.11.2014 EFPIA’s specialised group Vaccines Europe and the Innovative Medicines Initiative (IMI) have launched a €280m Call for proposals aimed to address the Ebola crisis.

Trade fairGermanyEU

07.11.2014 3,200 participants from 54 countries attended the 20th issue of BIO-Europe. The overall mood of the European biotech sector was modestly optimistic.

AcquisitionGermanyUKSweden

05.11.2014 German Definiens AG has a new owner: Astrazeneca’s biologics R&D arm Medimmune has taken over all the shares of the imaging specialist for US$150m.

AcquisitionSwedenDenmarkUK

04.11.2014 Galecto Biotech has entered an agreement with Bristol-Myers Squibb for the acquisition of the company and its lead drug, providing the Swedish company with the potential of reaching over US$400m.

FinancingSwedenNorway

31.10.2014 Another biotech is leaving the European market place in favour of a US IPO. Swedish Cortendo is now planning to go public in the US after raising €8.8m in bridge financing.

Events

All Events

Current issue

All issues

Product of the week

Products