Arvinas announced a strategic collaboration with Merck in which Arvinas’ novel PROTAC technology will be used to degrade target proteins, with the goal of creating novel therapeutics.
The multi-year collaboration will encompass multiple disease targets across several therapeutic areas.
While the specifics of the financial arrangements were not disclosed, Arvinas will receive an up-front payment and funding to support Merck-related research.
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Additionally, Arvinas could earn up to $434 million if all research, development, regulatory and commercial milestone payments are successfully paid for products against all the targets initially selected by Merck, as well as tiered royalties.
Merck may, at its discretion, elect to expand the collaboration to include additional disease targets.
This decision would trigger an additional one-time payment, as well as payment of milestones and royalties on a product-by-product basis.
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