Merck acquires a $3 billion license for a new cancer treatment from LaNova Medicines.

Merck & Co. has acquired an exclusive global license to develop LM-299, a novel cancer treatment from LaNova Medicines, in a deal valued at over $3 billion. The agreement includes a $588 million upfront payment and potential milestone payments of $2.7 billion. Merck will conduct a Phase 1 study of LM-299 in China, aiming to expand its oncology pipeline and advance the drug for patient benefit.

November 14, 2024
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