Merck's ADC hunt continues with second deal for China biotech Kelun
Two months after inking a relatively quiet $47 million upfront deal with China’s Kelun Biotech, Merck is back with another deal, this time eyeing an ADC for solid tumors.
The latest pact includes $35 million upfront but is largely backloaded with $901 million on the line, similar to the first tie-up, which came in at $47 million to start and $1.3 billion on the biobucks end.
As Merck reportedly circles the waters of Seagen, an early ADC leader and partner of the New Jersey Big Pharma, the company is deepening its presence in the antibody-drug conjugate field to diversify its oncology pipeline, according to SVP of oncology early development, Eric Rubin, in a statement Tuesday morning.
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