Merck pens pact with Pearl Bio for new biologics in cancer

Merck is teaming up with a Khosla Ventures-backed biotech in a package that could be worth as much as $1 billion to create new biologics for cancer.

Pearl Bio is still in the seed stage and is advised by George Church, and will get an undisclosed upfront from Merck. Cambridge, MA-based Pearl Bio could also receive royalties on sales if the pact leads to approved drugs, the companies said Tuesday morning.

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