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

FinancingFrance

21.10.2014 Yet another European company is looking for money on the US stock exchange – French DBV Technologies SA is all set up for its secondary listing on NASDAQ. The French biotech company hopes to rake in US$98m for its peanut allergy patches.

FinancingDenmark

18.10.2014 After raising US$220.5m (€172m) with its IPO, fast Forward Pharma’s lucky streak hits an obstacle on the road to success with shares falling 17% on its first day of trading.

M&AUKItaly

17.10.2014 Abandoned at the altar: Abbvie has dropped plans to acquire UK’s Shire following new US tax rules. This puts a stop to one of the biggest pharma mergers planned this year.

FinancingUKBelgium

15.10.2014 Bicycle Therapeutics wins €25m backing by major pharma venture capitalists for the development of a new class of oncology drugs.

FinancingGermanySwitzerlandNetherlands

13.10.2014 Biotechnology IPOs are back in fashion – German Probiodrug AG wants to raise €32m with its IPO, whilst Swiss Molecular Partners AG hopes the launch of its IPO will gain a revenue of €145m.

BusinessIreland

10.10.2014 Actavis has announced plans to merge with American pharma company Durata - a move that will strengthen their infectious diseases portfolio.

RegulationEU

07.10.2014 In an unprecedented move, the European Medicines Agency has approved a system allowing the future analysis of clinical trial data.

FinanceNetherlandsEU

06.10.2014 Another fund from the Netherlands has raised €92m in its first close and will invest the money in companies developing innovative therapeutics, medical devices and diagnostics.

FinanceNetherlandsUKSwitzerland

03.10.2014 Dutch venture capitalist LSP has achieved its monetary milestone by raising €80m for its fifth fund - with a goal of €150m.

PoliticsEULithuaniaPoland

02.10.2014 New EU commission chief Jean-Claude Juncker is on the defensive after members of Parliament and NGOs criticised his reorganisation of the health technology units.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • MEDIGENE3.85 EUR8.15%
  • EVOTEC2.87 EUR7.49%
  • 4SC0.84 EUR5.00%

FLOP

  • CYTOS0.15 CHF-6.25%
  • EPIGENOMICS3.42 EUR-0.87%
  • STRATEC BIOMEDICAL37.50 EUR-0.87%

TOP

  • BIOFRONTERA2.91 EUR29.9%
  • ADDEX3.44 CHF5.8%
  • HBM86.00 CHF3.7%

FLOP

  • PAION2.19 EUR-32.6%
  • CYTOS0.15 CHF-28.6%
  • 4SC0.84 EUR-26.3%

TOP

  • SANTHERA82.00 CHF2269.9%
  • CO.DON2.82 EUR209.9%
  • PAION2.19 EUR154.7%

FLOP

  • CYTOS0.15 CHF-96.2%
  • 4SC0.84 EUR-51.7%
  • THERAMETRICS0.07 CHF-46.2%

No liability assumed, Date: 21.10.2014