Merck KGaA gets Lpath's Asonep in deal worth up to $422M

San Diego, USA-headquartered Lpath, a developer of lipid-based therapeutics, has entered a worldwide alliance with Germany's Merck KGaA to develop and commercialize Asonep (sonepcizumab), its Phase I-stage monoclonal antibody for the treatment of cancer.

Under the terms of the deal, Merck's pharmaceuticals division will give Lpath up to $23.0 million in upfront payments and R&D funding to support completion of the Phase I trial. If Merck Serono accepts the responsibility to develop Asonep beyond Phase I, it will pay Lpath an additional $28.0 million and will fund all continuing development activities. Further payments will be made on achievement of development, regulatory and sales milestones that could total up to $422.0 million should Asonep be approved in multiple indications. Generated via Lpath's proprietary ImmuneY2 drug-discovery engine, Asonep neutralizes S1P, a bioactive lipid that stimulates tumor-cell migration, invasion, and survival, and also promotes growth of new blood vessels.