[ad_1]

  • Merck & Co Inc MRK and Orion Corporation announced a global development and commercialization agreement for Orion’s ODM-208 and other drugs targeting cytochrome P450 11A1 (CYP11A1), an enzyme essential in steroid production. 
  • ODM-208 is an oral, non-steroidal inhibitor of CYP11A1 currently in a Phase 2 trial for metastatic castration-resistant prostate cancer.
  • Under the terms of the agreement, Orion and Merck will co-develop and co-commercialize ODM-208. 
  • Merck will make an upfront payment to Orion of $290 million.
  • Of this upfront payment, Orion recognizes approximately €220 million as income at the time of signing. Approximately €60 million is reserved to cover Orion’s share of the ODM-208 development cost. 
  • Orion will be responsible for manufacturing the clinical and commercial supply of ODM-208.
  • In addition, the contract provides both parties with an option to convert the initial co-development and co-commercialization agreement into a global exclusive license to Merck. 
  • If the option is exercised, Merck would assume full responsibility for all accrued and future development and commercialization expenses associated with the program. Orion would be eligible to receive milestone payments.
  • Price Action: MRK shares are down 0.59% at $93.08 during the market session on the last check Wednesday.

[ad_2]

Source link