Merck will receive an up-front payment of E60 million, as well as significant milestone payments. The companies say that they have a formula for splitting profits, with Merck booking matuzumab sales in all regions except Japan.
Matuzumab was developed by Merck and currently is in phase II clinical trials in patients with non-small cell lung, gastric and colorectal cancers.
Merck says that it decided to enter into this collaboration with Takeda in order to put more resources and expertise toward this important product for the treatment of cancer, and that Takeda’s experience and commitment in the field of oncology makes it a perfect fit with Merck.
“This collaboration with Takeda, Japan’s largest pharmaceutical company, will allow us to move ahead quickly with development and commercialization of this potentially important product for cancer patients,” said Elmar Schnee, president of Merck Ethical Pharmaceuticals. “Our complementary strengths in clinical development and commercialization will help us bring matuzumab to cancer patients around the world.”
The two companies will collaborate on development and commercialization efforts in the major pharmaceutical markets of the world, excluding Australia and Latin America.