(CercleFinance.com) – The American company PDS Biotechnology announced on Tuesday the signing of a worldwide license agreement with the German pharmaceutical group Merck, from which it will resume the development of a molecule.
In a press release, PDS explains that its teams will now be responsible for the development, marketing and manufacture of M9241 (formerly NHS-IL12), an experimental treatment for solid tumors.
According to initial trials, M9241 would promote the proliferation, power and longevity of T cells, capable of attacking tumors.
This agreement comes as PDS Biotechnology has patented a mechanism of action combining its Versamune nanotechnology with IL-12 controlled therapy to reverse the process of immune system suppression.
Under the terms of the agreement, Merck will receive an upfront payment of $5 million, which may be supplemented by $11 million in milestone payments based on the achievement of certain milestones.
The achievement of predefined commercial objectives would result in a payment of 105 million dollars, without taking into account the 10% of royalties collected on future sales of the drug possibly put on the market.
Merck will also receive 378,787 PDS Biotech shares representing a value of five million dollars.
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