2023-03-08 08:38:01 ET
- Opko Health's ( NASDAQ: OPK ) ModeX Therapeutics signed a worldwide license agreement with Merck ( NYSE: MRK ) to develop its preclinical Epstein-Barr Virus (EBV) vaccine candidate MDX-2201.
- EBV, also known as human herpesvirus 4, is a member of the herpes virus family. EBV can cause infectious mononucleosis (also known as mono), among other diseases, according to the U.S. CDC. There are currently no FDA approved vaccines or treatments for EBV infection, as per the companies.
- Under the agreement, Opko will get $50M upfront and is eligible to receive development and commercialization milestones of up to $872.5M, plus royalties on global sales.
- ModeX and Merck will jointly advance MDX-2201 to an Investigational New Drug (IND) application filing, after which Merck will be responsible for clinical and regulatory activities, plus the sales of the product.
- "Merck represents the ideal partner to develop and commercialize a new vaccine candidate, and we are particularly proud to enter into this high-potential agreement so soon after completing the ModeX transaction last May," said Opko Chairman and CEO Phillip Frost.
- OPK +25.57% to $1.33 premarket March 8
For further details see:
Opko stock surges ~25% on license deal with Merck for potential EBV vaccine