Mersana Therapeutics, Inc. Receive Notices from Millennium Pharmaceuticals, Inc. to Terminate the Development Collaboration and Commercial License Agreement and Amended and Restated Research Collaboration and Commercial License Agreement
January 04, 2019 at 07:05 am
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On January 2, 2019, Mersana Therapeutics, Inc. received notices from Millennium Pharmaceuticals, Inc. (Millennium) stating that Millennium was exercising its rights to: terminate the Development Collaboration and Commercial License Agreement between the Company and Millennium, dated January 29, 2016, upon 30 days’ prior written notice pursuant to Section 14.2 of the Development and License Agreement; and terminate the Amended and Restated Research Collaboration and Commercial License Agreement between the Company and Millennium, dated January 29, 2016, upon 45 days’ prior written notice pursuant to Section 13.2 of the Research Collaboration and License Agreement. The Development and License Agreement and the Research Collaboration and License Agreement provide for the global development and commercialization of XMT-1522 and the development and commercialization of ADC product candidates utilizing the Company’s Fleximer polymer scaffold, respectively. Millennium’s delivery of these notices followed discussions between the two parties whereby they mutually agreed to discontinue the strategic partnerships outlined in the Development and License Agreement and the Research Collaboration and License Agreement. The Company and Millennium will wind down activities under the Development and License Agreement over the course of the 30-day notice period and the Research Collaboration and License Agreement over the course of the 45-day notice period. As a result of a strategic evaluation and in connection with the termination of the Development and License Agreement, the Company has determined that it will prioritize its resources to focus on the advancement of XMT-1536 and will terminate further development of XMT-1522.
Mersana Therapeutics, Inc. is a clinical-stage biopharmaceutical company, which is focused on the development of antibody-drug conjugates (ADCs), which offer a clinically meaningful benefit for cancer patients with significant unmet needs. It has developed two proprietary and differentiated ADC platforms: Dolasynthen and Immunosynthen. Dolasynthen is its cytotoxic ADC platform that is designed to generate site-specific, homogeneous ADCs. Immunosynthen is its proprietary stimulator of interferon genes (STING)-agonist platform that is designed to generate systemically administered ADCs that locally activate STING signaling in both antigen-expressing tumor cells and in tumor-resident immune cells. The Company's pipeline also includes XMT-1660, a Dolasynthen ADC targeting B7-H4 in a Phase I clinical trial, and XMT-2056, an Immunosynthen ADC targeting a novel epitope of human epidermal growth factor receptor 2 (HER2), in addition to other earlier-stage assets.
Mersana Therapeutics, Inc. Receive Notices from Millennium Pharmaceuticals, Inc. to Terminate the Development Collaboration and Commercial License Agreement and Amended and Restated Research Collaboration and Commercial License Agreement
MERSANA THERAPEUTICS, INC. 
