Merck (NYSE:MRK) inks an agreement with privately held Yumanity Therapeutics for exclusive rights to two of the latter’s pipeline candidates for amyotrophic lateral sclerosis (ALS) and frontotemporal lobar dementia (FTLD).
The parties will also collaborate to advance two preclinical programs, after which MRK will have the right to advance clinical development and commercialization.
Under the terms of the agreement, Yumanity will receive an undisclosed upfront payment, up to ~$500M in milestones and royalties on net sales.
Merck is joining a group of institutional investors in a Series C financing round.
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