Merck and Orion Corporation have exercised an option to convert their co-development agreement for opevesostat into an exclusive worldwide license for Merck.

This decision allows Merck to continue the development and commercialization of opevesostat.

Merck and Orion have initiated two Phase 3 clinical trials for opevesostat, aimed at treating metastatic castration-resistant prostate cancer.

Orion will receive development, regulatory and sales-based milestone payments, as well as royalties on net sales.

For its part, Merck will assume all development and commercialization expenses, while Orion will focus on other promising candidates.

The exclusive license is subject to regulatory approval and is expected to become effective in the third quarter of 2024.

Copyright (c) 2024 CercleFinance.com. All rights reserved.