Merck, Orion Set Collaboration for ODM-208 Development

By Colin Kellaher

Merck & Co. on Wednesday said it signed a global agreement with Finland's Orion Oyj to develop and commercialize Orion's ODM-208 investigational steroid synthesis inhibitor for the treatment of metastatic castration-resistant prostate cancer.

The Kenilworth, N.J., drugmaker said it will make an upfront payment of $290 million to Orion as part of the agreement, which it said strengthens and complements its oncology pipeline.

Merck said Orion will be responsible for the manufacture of clinical and commercial supply of ODM-208, which is currently being evaluated in a Phase 2 clinical study.

Merck said the deal gives both companies an option to convert the initial 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, while Orion would be eligible to receive milestone payments and royalties product sales.

Write to Colin Kellaher at [e-mail]

(END) Dow Jones Newswires

July 13, 2022 06:42 ET (10:42 GMT)

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