Merck, known as MSD outside the U.S. and Canada, has finalized an exclusive global license agreement for LM-299, an investigational programmed cell death protein-1 and vascular endothelial growth factor PD-1/VEGF bispecific antibody, from LaNova Medicine. This agreement grants Merck the rights to develop, manufacture, and commercialize LM-299, a novel therapeutic targeting both PD-1/VEGF. The approach aims to inhibit immune checkpoint signaling and angiogenesis, enhancing its potential for cancer treatment. Currently, LM-299 is undergoing a Phase 1 clinical trial in China, reflecting its innovative molecular design, which links an anti-VEGF antibody to two single-domain anti-PD-1 antibodies.
Merck will record a $588 million pre-tax charge in its fourth-quarter 2024 results related to the upfront payment, equating to approximately $0.18 per share. Additionally, LaNova stands to receive up to $2.7 billion in milestone payments tied to technology transfer, development, regulatory approvals, and commercialization milestones, with $300 million anticipated upon technology transfer in 2025. With over 130 years of advancing medical innovation, Merck remains committed to delivering cutting-edge health solutions globally. The acquisition of LM-299 further cements Merck's position as a leader in research-intensive biopharmaceuticals, dedicated to improving and saving lives worldwide.
