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Markets News

Merck KGaA inks research deal with Artios for cancer drugs

BERLIN, Dec 3 (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

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