Under-the-radar Chinese biotech scores $47M upfront in secretive Merck deal around cancer drug
During his most recent investor call, Merck CEO Rob Davis promised to be “appropriately aggressive in pursuing compelling external innovation.” But as it turns out, that doesn’t necessarily mean they would be loud about it.
China’s Kelun Pharmaceutical said the pharma giant has licensed a certain “large molecule” cancer drug candidate from its biotech subsidiary Sichuan Kelun-Biotech. Covering all territories outside mainland China, Taiwan, Hong Kong and Macau, the deal starts at $47 million upfront but milestones can add up to $1.3 billion.
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