Mereo Licenses Navicixizumab to Oncologie for Worldwide Development, Commercialization

Mereo Licenses Navicixizumab to Oncologie for Worldwide Development, Commercialization
Mereo BioPharma has licensed its experimental therapy navicixizumab (OMP-305B83) — designed to treat advanced, heavily pretreated ovarian cancer — to Oncologie for worldwide development and commercialization. Under the terms of the agreement, Mereo will get an upfront payment of $4 million. That will be followed by a $2 million outlay contingent upon a milestone known as CMC, or chemistry, manufacturing and controls — the ability to produce, analyze, and store a product. Mereo also stands to get $300 million in future clinical, regulatory and commercial milestones, plus royalties on global annual net sales and a negotiated percentage of certain sublicensing revenues. Oncologie will be responsible for all future research, development, and commercialization of navicixizumab. “We believe Oncologie is expertly positioned to further advance navicixizumab through clinical development and towards potential commercialization,” Denise Scots-Knight, PhD, CEO of Mereo, said in a press release. The U.S. Food and Drug Administration (FDA) granted fast track designation to navicixizumab
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