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News Breaks
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February 3, 2012
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| 05:41 EDT |  | MRK, THLD |
| theflyonthewall.com: | Threshold Pharma and Merck KGaA announce global agreement for TH-302 | | Threshold Pharmaceuticals announced that a global agreement was signed with Merck KGaA, Darmstadt, Germany, to co-develop and commercialize TH-302, Threshold's small molecule hypoxia-targeted drug. TH-302 is currently being investigated in a global Phase 3 clinical trial in patients with soft tissue sarcoma, a randomized Phase 2 trial in patients with advanced pancreatic cancer from which top-line results are expected in February, as well as additional clinical studies in other solid tumors and hematological malignancies. Merck will receive co-development rights, exclusive global commercialization rights and will provide Threshold an option to co-commercialize the therapeutic in the U.S. In exchange, Threshold will receive an upfront payment of $25M and could receive up to $35M in additional development milestones during 2012. Threshold is also eligible to receive a $20M milestone payment based on positive results from its randomized Phase 2 trial in pancreatic cancer. Total potential milestone payments are $525M, comprised of $280M in regulatory and development milestones and $245M in sales-based milestones. In the U.S., Threshold will have primary responsibility for development of TH-302 in the soft tissue sarcoma indication. Threshold and Merck KGaA will jointly develop TH-302 in all other cancer indications being pursued. Merck KGaA will pay 70% of worldwide development costs for TH-302. :theflyonthewall.com |
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