Biomira will receive $2.5 million if new transaction clears antitrust authorities.
Biomira and Merck KGaA amended their collaboration and supply agreements related to Stimuvax®. This vaccine candidate is designed to induce an immune response to cancer cells that express MUC1, a protein antigen expressed in common cancers. Merck currently is conducting a global Phase III trial in patients with unresectable Stage III non-small-cell lung cancer.
Biomira will receive a payment of $2.5 million upon clearance of the transaction with the
Under the terms of the restated deals, Merck will have worldwide marketing rights to and will be entirely responsible for the further clinical development of Stimuvax. Biomira is entitled to development- and sales-based milestone payments and a royalty on net sales.
Biomira retains responsibility for the manufacture of Stimuvax, including process development and scale-up for commercial manufacturing. Merck will exclusively purchase the drug from Biomira. With respect to purchases for commercial sales, the price will be subtracted from Biomira’s royalty. The new transactions provide Biomira with revised payments based on manufacturing scale-up and process transfer milestones.
Merck KGaA and its