Mer­ck pens pact with Pearl Bio for new bi­o­log­ics in can­cer

Mer­ck is team­ing up with a Khosla Ven­tures-backed biotech in a pack­age that could be worth as much as $1 bil­lion to cre­ate new bi­o­log­ics for can­cer.

Pearl Bio is still in the seed stage and is ad­vised by George Church, and will get an undis­closed up­front from Mer­ck. Cam­bridge, MA-based Pearl Bio could al­so re­ceive roy­al­ties on sales if the pact leads to ap­proved drugs, the com­pa­nies said Tues­day morn­ing.

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