According to PharmaLetter, Ambrx has entered into a collaboration with US drug giant Merck & Co (NYSE: MRK) to design and develop rationally optimized biologic drug conjugates. With antibody drug conjugates becoming more and more popular in drug development, Merck's $303 million deal with San Diego's Ambrx comes at a prime time.
The deal will give Merck worldwide rights to develop and commercialize biotherapeutic drug conjugates directed towards a number of pre-specified targets. Ambrx will receive an upfront $15 million and is eligible for milestone payments totaling up to $288 million for successful discovery, development and commercialization of candidates to all pre-specified targets. In addition, Ambrx will also receive royalties on any net sales of products resulting from the collaboration.
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