Baxter International had entered into an exclusive pharma licensing and collaboration agreement with Merrimack Pharmaceuticals to develop and commercialize lead cancer drug MM-398.
The drug, nanoliposomal irinotecan injection), is also labeled “nal-IRI.”
Baxter will hold exclusive commercialization rights for possible uses outside the U.S. and Taiwan.
Merrimack holds commercialization rights in the U.S. Taiwanese rights are held separately.
Merrimack will receive an upfront payment from Baxter of $100 million.
Merrimack may receive $120 million in regulatory milestones related to the first pancreatic cancer therapeutic, as well as a potential $280 million in developmental and regulatory milestone payments for anadditional indication of cancer of the pancreas.
For two more indications, Merrimack could receive another $220 million and yet another $250 million in sales milestones.
Merrimack is prepping an NDA for MM-398 in the U.S. for possible treatment of metastatic pancreatic cancer patients, specifically in patients previously treated by gemcitabine.
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