Merck & Co., known as MSD outside the US and Canada, has entered into an exclusive global licensing agreement worth over $3.2 billion to advance LaNova Medicines’ investigational PD-1/VEGF bispecific antibody, LM-299. This strategic move aims to bolster Merck's oncology pipeline.
The agreement grants Merck exclusive global rights to develop, manufacture, and commercialize LM-299. Currently, LM-299 is undergoing a Phase 1 clinical trial in China, enrolling patients with advanced solid tumors. Preclinical data have demonstrated significant inhibition of tumor growth and a favorable safety profile.
LM-299: A Promising Cornerstone Therapy
LaNova Medicines describes LM-299 as a promising cornerstone therapy for the next generation of tumor immunotherapy, highlighting its potential for use in combination with immuno-oncology drugs, small molecule targeted therapies, antibody-drug conjugates, and T cell activators.
Under the terms of the agreement, LaNova will receive an upfront payment of $588 million and is eligible for up to $2.7 billion in milestone payments associated with technology transfer, development, regulatory approval, and commercialization of LM-299 across multiple indications.
Dean Li, president of Merck Research Laboratories, emphasized the company's commitment to building a strong and diversified oncology pipeline with differentiated mechanisms and multiple modalities. "This agreement adds to Merck’s growing oncology pipeline, and we look forward to advancing LM-299 with speed and rigor for patients in need," he stated.
Merck's Recent Oncology Investments
This deal follows Merck's recent acquisition of Modifi Biosciences, an oncology spinout from Yale University, for $1.3 billion, providing access to preclinical compounds targeting DNA repair defects in cancers like glioblastomas. Additionally, Merck has partnered with Exelixis to evaluate new combination treatments for head and neck cancer and renal cell carcinoma and signed a licensing agreement with Mestag Therapeutics to identify new targets for inflammatory diseases.
Merck also completed the acquisition of CN201, an investigational B-cell depletion therapy from Curon Biopharmaceutical, which is currently in Phase 1 and Phase 1b/2 clinical trials for relapsed or refractory non-Hodgkin’s lymphoma and relapsed or refractory B-cell acute lymphocytic leukemia, respectively.
