MSD has acquired full rights to MK-8690 from Dr. Falk Pharma, discontinuing their collaboration for a payment of $150 million while aiming to enhance its therapeutic pipeline.
Target Information
Merck & Co., Inc., operating under the tradename MSD, has announced a significant strategic move via its subsidiary, Prometheus BioSciences. The company has entered into an agreement with Dr. Falk Pharma GmbH to terminate the existing co-development and co-commercialization contract for the investigational monoclonal antibody MK-8690 (previously known as PRA-052). As a result of this agreement, MSD will assume complete responsibility for the ongoing development of MK-8690, which is currently undergoing early-stage clinical trials.
This decision to discontinue the collaboration allows Prometheus BioSciences to secure global rights to MK-8690, enhancing MSD's pipeline of innovative therapeutic solutions. In return, Dr. Falk Pharma will receive an upfront payment of $150 million along with potential future payments tied to development milestones and royalties from sales in designated territories.
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Disclosed details
Transaction Size: $150M