Merck Gains Global Licence for LaNova’s Investigational Antibody LM-299
Friday, November 15, 2024
Merck has entered a global licensing agreement with LaNova Medicines to advance LM-299, a new investigational bispecific antibody targeting PD-1 and VEGF.
LM-299 is designed to simultaneously target immune checkpoint and angiogenesis pathways. By inhibiting both PD-1/PD-L1 and VEGF/VEGFR signalling, this approach aims to reduce immune resistance and limit tumour blood vessel growth.
The bispecific antibody integrates a VEGF-directed antibody with two anti-PD-1 antibodies. Currently, LM-299 is undergoing a Phase 1 clinical trial in China.
This collaboration enhances Merck’s oncology pipeline, aligning with its strategy to diversify treatment options through innovative mechanisms.
Under the agreement, Merck will hold exclusive global rights to develop, manufacture, and commercialise LM-299, with LaNova receiving an initial payment of $588 million.
Additional payments of up to $2.7 billion are possible as the therapy progresses through technology transfer, development stages, regulatory milestones, and commercialisation across multiple indications.
The transaction, expected to conclude in the fourth quarter of 2024, remains subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other standard regulatory conditions.
Upon closing, Merck plans to include the upfront payment in its quarterly financial reports, detailing its impact on earnings per share.
Source: merck.com
