Edition:
United Kingdom

Merck And NGM Bio Announce Extension Of Broad, Multi-Year Strategic Collaboration To 2022


Wednesday, 20 Mar 2019 

March 20 (Reuters) - Merck & Co Inc ::MERCK AND NGM BIO ANNOUNCE EXTENSION OF BROAD, MULTI-YEAR STRATEGIC COLLABORATION TO 2022.MERCK & CO INC - MERCK TO RETURN GDF15 RECEPTOR AGONIST PROGRAM TO NGM.MERCK & CO INC - COLLABORATION WILL CONTINUE TO FOCUS ON DISCOVERY AND DEVELOPMENT OF NOVEL BIOLOGIC THERAPEUTICS ACROSS A RANGE OF THERAPEUTIC AREAS.MERCK & CO INC - MERCK WILL TERMINATE ITS LICENSE TO NGM'S GROWTH DIFFERENTIATION FACTOR 15 (GDF15) RECEPTOR AGONIST PROGRAM.MERCK & CO INC - DURING TWO-YEAR EXTENSION PERIOD, MERCK WILL CONTINUE TO FUND NGM'S RESEARCH AND DEVELOPMENT EFFORTS.MERCK & CO INC - RETAINS ONE ADDITIONAL TWO-YEAR EXTENSION OPTION THAT IS EXERCISABLE IN 2021.MERCK - MERCK WILL MAKE ADDITIONAL PAYMENTS TOTALING UP TO $20 MILLION IN SUPPORT OF NGM'S RESEARCH AND DEVELOPMENT ACTIVITIES DURING EXTENSION PERIOD.MERCK & CO - MERCK'S DECISION TO TERMINATE GDF15 PROGRAM, A RIGHT STIPULATED IN AGREEMENT, DOES NOT IMPACT REMAINDER OF COLLABORATION ARRANGEMENT.MERCK & CO - UPON LICENSE TERMINATION, CO TO GRANT TO NGM EXCLUSIVE LICENSE UNDER CO'S INTELLECTUAL PROPERTY RELATED TO GDF15 RECEPTOR AGONIST PROGRAM.