Merck Exercises Global Option for Pimicotinib, Pays $85M to Abbisko Therapeutics

On March 28, Merck KGaA will cooperate with Abbisko Therapeutics, a Chinese biotechnology company, to promote and sell bone tumor treatment drugs worldwide.Pimicotinib (Pimi替尼), extending the commercial rights of the drug beyond Asia.

This German pharmaceutical company said on Friday that it wouldAbbisko Pays $85 Million Option Exercise Fee.

Merck to Explore Oral Small Molecule CSF-1R InhibitorpimicotinibOther indications, such as chronic graft-versus-host disease — a systemic condition where transplanted immune cells recognize the recipient's body as foreign — a recent late-stage study showed that, compared to placebo, the treatment significantly improved response rates in patients with tenosynovial giant cell tumor, a benign tumor that grows around joints.

Merck Group in 2023 withAbbisko has signed an agreement to obtainThe commercial rights of pimicotinib in mainland China, Hong Kong, Macao, and Taiwan,And has exclusive commercialization option rights in other regions globally.Co-development in other indications can be optionally selected under certain conditions.Pimicotinib has been granted Breakthrough Therapy Designation by the China National Medical Products Administration and the U.S. Food and Drug Administration. Merck Group has already paidA $70 million upfront payment, and upon exercising the option,Abbisko Pays Option Exercise Fee.Abbisko will receive additional payments for achieving certain regulatory and commercial milestones, as well as tiered double-digit royalties on net sales.