Merck Betting Up To $1B On Endocyte's Cancer Treatment

Law360, New York (April 16, 2012, 6:53 PM EDT) -- Merck & Co. Inc. will pay Endocyte Inc. up to $1 billion as they partner on the production of experimental cancer treatment vintafolide, the companies announced Monday.

Under the pact, Endocyte will land $120 million upfront and be eligible for milestone payments of up to $880 million based on goals for six cancer indications, the companies said. If vintafolide is cleared for sale, domestic profits will be split equally and Endocyte will receive double-digit royalties from foreign sales.

“We think this is a transformative deal for...
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