On Weak Phase 2 Data, Merck Drops Eye Disease Related Pact With NGM Biopharm

 

• Merck & Co Inc 
  MRK+1.12%+ Free Alerts
   has notified NGM Biopharmaceuticals Inc 
  NGM-0.59%+ Free Alerts
   that it will not exercise its option to license NGM621 and its related compounds.
• Merck will also not exercise the related ophthalmology bundle option.
• NGM estimated in its latest quarterly report that it could also have received $20.7 million in reimbursable expenses if Merck went ahead with NGM621.
• In June 2021, NGM Biopharma and Merck extended their ongoing collaboration through March 2024 with a narrower scope. 
• The amended collaboration's primary focus was retinal and, cardiovascular & metabolic diseases, built upon progress with NGM621 and MK-3655, both discovered by NGM under the partnership.
• In October, Phase 2 trial data of NGM621 exhibited geographic atrophy (GA) lesion area reduction of 6.3% and 6.5%, respectively, compared to sham (n=106), which did not reach statistical significance in either arm. 
• Cardiovascular & metabolic-related research is slated to go on until March 2024.

https://www.benzinga.com/general/biotech/22/12/30160904/after-disappointing-phase-2-data-merck-drops-eye-disease-related-pact-with-ngm-biopharm