Under the terms of the agreement, the company is entitled to receive a payment of E3 million from Merck KGaA, the global pharmaceutical and chemical company based in Darmstadt, Germany.
The company expects that it will receive the milestone payment of E3 million from Merck KGaA during the second quarter of 2009. The clinical study is being conducted under the company’s investigational new drug application.
Alice Bexon, vice president of clinical development of Idera, said: “We are pleased with the initiation of the clinical study of IMO-2055 in combination with Erbitux and Camptosar in patients with colorectal cancer. The use of IMO-2055 with Erbitux is a further step in the combination of IMO-2055 with selected targeted agents in cancer treatment.”