Ambrx signs up to $300 million deal with Merck & Co
Privately-held California-based Ambrx has entered into a collaboration with US drug giant Merck & Co (NYSE: MRK) to design and develop rationally optimized biologic drug conjugates based on Ambrx' site-specific protein medicinal chemistry technology.
Under the terms of the deal, Merck gains worldwide rights to develop and commercialize biotherapeutic drug conjugates directed towards a number of pre-specified targets. Ambrx will receive an upfront $15 million and is eligible for milestone payments totaling up to $288 million for successful discovery, development and commercialization of candidates to all pre-specified targets. In addition, Ambrx will also receive royalties on any net sales of products resulting from the collaboration.
Foundation for new family of biologic drug comjugates
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