BERLIN (Reuters) – Germany’s Merck KGaA said on Thursday it has signed a three-year strategic research deal with Artios Pharma Limited to discover and develop up to eight potential targeted treatments for cancer.
Under the agreement, Artios will receive $30 million in up-front and near-term payments, plus double-digit option fees and up $860 million total milestones per target.
Merck said in a statement it will have the right to opt into exclusive development and commercialization of compounds on up to eight targets.
(Reporting by Caroline Copley; Editing by Riham Alkousaa)
