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Merck and Orna Therapeutics to collaborate in deal entitling Orna to up to $3.5 billion in milestone payments

·1 min read
Merck and Orna Therapeutics to collaborate in deal entitling Orna to up to $3.5 billion in milestone payments

Merck and privately held Orna Therapeutics said Tuesday they have agreed to collaborate to discover and develop programs, including vaccines and therapeutics, in the fields of infectious disease and oncology. Under the terms of the deal, Merck will make an upfront payment of $150 million, to be expensed in the third quarter and included in non-GAAP results. Orna will be eligible to receive up to $3.5 billion in milestone payments on reaching certain regulatory and sales goals, as well as royalti