Merck, Orion Set Collaboration for ODM-208 Development
July 13 2022 - 6:57AM
Dow Jones News
By Colin Kellaher
Merck & Co. on Wednesday said it signed a global agreement
with Finland's Orion Oyj to develop and commercialize Orion's
ODM-208 investigational steroid synthesis inhibitor for the
treatment of metastatic castration-resistant prostate cancer.
The Kenilworth, N.J., drugmaker said it will make an upfront
payment of $290 million to Orion as part of the agreement, which it
said strengthens and complements its oncology pipeline.
Merck said Orion will be responsible for the manufacture of
clinical and commercial supply of ODM-208, which is currently being
evaluated in a Phase 2 clinical study.
Merck said the deal gives both companies an option to convert
the initial agreement into a global exclusive license to Merck. If
the option is exercised, Merck would assume full responsibility for
all accrued and future development and commercialization expenses
associated with the program, while Orion would be eligible to
receive milestone payments and royalties product sales.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
July 13, 2022 06:42 ET (10:42 GMT)
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