The deal allows Merck to take over development of privately held LaNova Medicines' LM-299, the companies said on Thursday. The drug candidate targets a protein called PD-1, which prevents the immune system from killing cancerous cells. It also curbs levels ...

In a move to safeguard the company’s dominant position in cancer, Merck said Thursday it will license a new cancer drug from LaNova Medicines, a Shanghai-based firm, for $588 million upfront and as much as $2.7 billion in potential milestone payments.

Merck & Co. licensed an experimental cancer antibody from a closely held Chinese company in a deal worth $588 million upfront, plus as much as $2.7 billion in milestone payments.

Merck (MRK) stock will be in focus as company inks deal worth up to $3.3B to buy licensing rights to a cancer candidate called LM-299 from LaNova. Read more here.

In a move to safeguard its dominant position in cancer treatments, Merck agreed to license a drug from a Chinese company

Merck has signed a licensing agreement worth up to $3.3 billion with Shanghai-based LaNova Medicines to develop, make and sell an experimental cancer drug, the two companies said on Thursday.

MERCK & Co licenced an experimental cancer antibody from a closely held Chinese company in a deal worth US$588 million upfront, plus as much as US$2.7 billion in milestone payments. Read more at The Business Times.