{"id":60527,"date":"2024-12-20T13:02:23","date_gmt":"2024-12-20T12:02:23","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/merck-closes-exclusive-global-license-agreement-for-lm-299-an-investigational-anti-pd-1-vegf-bispecific-antibody\/"},"modified":"2024-12-20T13:02:23","modified_gmt":"2024-12-20T12:02:23","slug":"merck-closes-exclusive-global-license-agreement-for-lm-299-an-investigational-anti-pd-1-vegf-bispecific-antibody","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/merck-closes-exclusive-global-license-agreement-for-lm-299-an-investigational-anti-pd-1-vegf-bispecific-antibody\/","title":{"rendered":"Merck Closes Exclusive Global License Agreement for LM-299, An Investigational Anti-PD-1\/VEGF Bispecific Antibody"},"content":{"rendered":"
\n

RAHWAY, N.J.–(BUSINESS WIRE)–Merck (NYSE: MRK), known as MSD outside of the United States and Canada, today announced the closing of the exclusive global license agreement for LM-299, a novel investigational PD-1\/VEGF bispecific antibody, from LaNova Medicines Ltd. As previously announced<\/a>, Merck will develop, manufacture and commercialize LM-299.<\/p>\n

<\/a>
<\/a><\/p>\n

\nMerck will record a pre-tax charge relating to the upfront payment of $588 million, or approximately $0.18 per share, in the company\u2019s fourth quarter 2024 GAAP and non-GAAP results. LaNova is also eligible to receive up to $2.7 billion in milestone payments associated with the technology transfer, development, regulatory approval and commercialization of LM-299 across multiple indications, including $300 million upon technology transfer anticipated to be completed in 2025.<\/p>\n

\nAbout LM-299<\/b><\/p>\n

\nLM-299 is an investigational bispecific antibody targeting both programmed cell death protein-1 (PD-1) and vascular endothelial growth factor (VEGF). This innovative therapeutic approach is designed to inhibit both PD-1\/PD-L1 and VEGF\/VEGFR receptor signaling pathways releasing a key immune checkpoint while also inhibiting the production of new blood vessels (angiogenesis). LM-299 has a differentiated molecular design, comprising an anti-VEGF antibody linked to two C-terminal single domain anti-PD-1 antibodies. A Phase 1 clinical trial for LM-299 is currently enrolling patients in China.<\/p>\n

\nAbout Merck<\/b><\/p>\n

\nAt Merck, known as MSD outside of the United States and Canada, we are unified around our purpose: We use the power of leading-edge science to save and improve lives around the world. For more than 130 years, we have brought hope to humanity through the development of important medicines and vaccines. We aspire to be the premier research-intensive biopharmaceutical company in the world \u2013 and today, we are at the forefront of research to deliver innovative health solutions that advance the prevention and treatment of diseases in people and animals. We foster a diverse and inclusive global workforce and operate responsibly every day to enable a safe, sustainable and healthy future for all people and communities. For more information, visit www.merck.com<\/a> and connect with us on X (formerly Twitter)<\/a>, Facebook<\/a>, Instagram<\/a>, YouTube<\/a> and LinkedIn<\/a>.<\/p>\n

\nForward-Looking Statement of Merck & Co., Inc., Rahway, N.J., USA<\/b><\/p>\n

\nThis news release of Merck & Co., Inc., Rahway, N.J., USA (the \u201ccompany\u201d) includes \u201cforward-looking statements\u201d within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based upon the current beliefs and expectations of the company\u2019s management and are subject to significant risks and uncertainties. There can be no guarantees with respect to pipeline candidates that the candidates will receive the necessary regulatory approvals or that they will prove to be commercially successful. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.<\/p>\n

\nRisks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the company\u2019s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the company\u2019s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and\/or regulatory actions.<\/p>\n

\nThe company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the company\u2019s Annual Report on Form 10-K for the year ended December 31, 2023 and the company\u2019s other filings with the Securities and Exchange Commission (SEC) available at the SEC\u2019s Internet site (www.sec.gov<\/a>).<\/p>\n

Contacts<\/b> <\/p>\n

\nMerck Media Contacts:<\/p>\n

\nRobert Josephson
\n
(203) 914-2372<\/p>\n

\nJustine Moore
\n
(347) 281-3754<\/p>\n

\nMerck Investor Contacts:<\/p>\n

\nPeter Dannenbaum
\n
(732) 594-1579<\/p>\n

\nSteven Graziano
\n
(732) 594-1583<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

RAHWAY, N.J.–(BUSINESS WIRE)–Merck (NYSE: MRK), known as MSD outside of the United States and Canada, today announced the closing of the exclusive global license agreement for LM-299, a novel investigational PD-1\/VEGF bispecific antibody, from LaNova Medicines Ltd. As previously announced, Merck will develop, manufacture and commercialize LM-299. Merck will record a pre-tax charge relating to … [Read more…]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-60527","6":"format-standard","7":"category-industry"},"yoast_head":"\nMerck Closes Exclusive Global License Agreement for LM-299, An Investigational Anti-PD-1\/VEGF Bispecific Antibody - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/merck-closes-exclusive-global-license-agreement-for-lm-299-an-investigational-anti-pd-1-vegf-bispecific-antibody\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Merck Closes Exclusive Global License Agreement for LM-299, An Investigational Anti-PD-1\/VEGF Bispecific Antibody - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"RAHWAY, N.J.–(BUSINESS WIRE)–Merck (NYSE: MRK), known as MSD outside of the United States and Canada, today announced the closing of the exclusive global license agreement for LM-299, a novel investigational PD-1\/VEGF bispecific antibody, from LaNova Medicines Ltd. 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