Merck Serono and Ono Pharmaceutical Company, Ltd. Sign Separate Agreements Worth $25 Million for MS and Cancer Drugs
10/4/2011 7:45:25 AM
Merck Serono and Ono Pharmaceuticals inked separate deals relating to development and commercialization Ono's Phase II oral multiple sclerosis candidate, ONO-4641, and co-development of Merck Serono’s Phase III cancer immunotherapeutic Stimuvax. Under terms of the deal for ONO-4641, Merck Serono will pay ¥1.5 billion (about €14 million, or $18.75 million) up front for exclusive rights to develop the drug worldwide, except Japan, Korea, and Taiwan. Ono will in addition receive development, regulatory, and commercial milestones. Under terms of the separate Stimuvax agreement Ono will pay Merck Serono €5 million up front for rights to co-develop and co-market the cancer drug in Japan.