The agreement allows FKD to develop and commercialise Merck’s recombinant adenoviral interferon alfa 2b (rAd-IFN) to treat superficial bladder cancer.
The agreement also includes an option to develop Merck’s two other investigational recombinant adenoviral p21 (rAd-p21) to treat glaucoma surgery failure and conditionally replicating adenoviral technology (CRAV) to treat solid tumours.
FKD has received a fund in its working capital reserves of $16m secured in a private fundraising underwritten by Wolbern Invest and supported by the Finnish Funding Agency for Technology and Innovation.
The company claimed that the rAd-IFN has completed its Phase I clinical trials.
FKD chairman and CEO Nigel Parker said they look forward to commence development of the portfolio, starting with the Phase II clinical trial for rAd-IFN.