Opko Health enters exclusive worldwide license agreement with Merck

OPKO Health (OPK) entered into an exclusive worldwide license and collaboration agreement with Merck (MRK), known as MSD outside the United States and Canada, for the development of MDX-2201, ModeX’s preclinical nanoparticle vaccine candidate targeting EBV. Under the terms of the agreement, OPKO will receive an upfront payment of $50M and is eligible for milestone payments associated with progress in the development and commercialization of MDX-2201 of up to $872.5M , as well as royalties on global sales. ModeX and Merck will jointly advance MDX-2201 to an Investigational New Drug application filing, after which Merck will be responsible for clinical and regulatory activities, as well as product commercialization. "Through the acquisition of ModeX, we broadened our technology foundation and expanded our product pipeline into new therapeutic areas," said Phillip Frost, M.D., Chairman and Chief Executive Officer of OPKO. "Merck represents the ideal partner to develop and commercialize a new vaccine candidate, and we are particularly proud to enter into this high-potential agreement so soon after completing the ModeX transaction last May."