Abbisko signs $70M upfront deal with Merck KGaA for PhIII cancer drug

Shang­hai-based Ab­bisko Ther­a­peu­tics has lined up an­oth­er part­ner for its on­col­o­gy pipeline and will re­ceive $70 mil­lion up­front as Mer­ck KGaA grabs com­mer­cial­iza­tion rights to the biotech’s lead as­set in Chi­na.

Mer­ck KGaA will dish out up to $605.5 mil­lion to­tal, plus dou­ble-dig­it per­cent­age roy­al­ties on po­ten­tial fu­ture net sales, to nab com­mer­cial­iza­tion rights to Ab­bisko’s oral small mol­e­cule pim­i­co­tinib, which is be­ing stud­ied in a glob­al Phase III for pa­tients with tenosyn­ovial gi­ant cell tu­mor, or TGCT.

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