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Merck Inks Deal Worth Up to $2.7 B with Chinese Biotech Startup LaNova Medicines

18 Nov 2024
Admin
News Article

Merck Inks Deal Worth Up to $2.7 B with Chinese Biotech Startup LaNova Medicines

Overview

Merck enters into exclusive global license for LM-299, an investigational anti-PD-1/VEGF bispecific antibody from LaNova Medicines Merck, known as MSD outside of the United States and Canada, and China-based biotech startup LaNova Medicines, have announced that Merck has entered into an exclusive global license to develop, manufacture and commercialise LM-299, a novel investigational PD-1/VEGF bispecific antibody from LaNova.

From Merck Research Laboratories

Dr Dean Y. Li, president, Merck Research Laboratories said, “This agreement adds to Merck’s growing oncology pipeline and we look forward to advancing LM-299 with speed and rigor for patients in need.”

Terms of Agreement

Under the agreement, LaNova has granted Merck an exclusive global license to develop, manufacture and commercialise LM-299.
LaNova will receive an upfront payment of $588 million.
LaNova is also eligible to receive up to $2.7 billion in milestone payments associated with the technology transfer, development, regulatory approval and commercialisation of LM-299 across multiple indications.

About the Bisepecific Antibody: LM-299

LM-299 is an investigational bispecific antibody targeting both programmed cell death protein-1 (PD-1) and vascular endothelial growth factor (VEGF).
This innovative therapeutic approach is designed to inhibit both PD-1/PD-L1 and VEGF/VEGFR receptor signaling pathways releasing a key immune checkpoint while also inhibiting the production of new blood vessels (angiogenesis).
LM-299 has a differentiated molecular design, comprising an anti-VEGF antibody linked to two C-terminal single domain anti-PD-1 antibodies.
A Phase 1 clinical trial for LM-299 is currently enrolling patients in China.