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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.