Brief: PDS Biotech Announces Exclusive Global License Agreement For Investigational Il-12 Tumor-Targeted Cytokine From Merck KGaA, Darmstadt, Germany

PDS Biotechnology

03/01/2023 13:16

Jan 3 (Reuters) - PDS Biotechnology Corp  PDSB.O :
    * PDS BIOTECH ANNOUNCES EXCLUSIVE GLOBAL LICENSE AGREEMENT
FOR
INVESTIGATIONAL IL-12 TUMOR-TARGETED CYTOKINE FROM MERCK KGAA,
DARMSTADT, GERMANY
    * PDS BIOTECHNOLOGY CORP - UNDER TERMS OF AGREEMENT, PDS
BIOTECH
WILL RECEIVE FROM MERCK KGAA, DARMSTADT, GERMANY AN EXCLUSIVE
LICENSE TO M9241
    * PDS BIOTECHNOLOGY CORP - PDS BIOTECH WILL ASSUME
RESPONSIBILITY
FOR FUTURE DEVELOPMENT, COMMERCIALIZATION, AND MANUFACTURING OF
M9241
    * PDS BIOTECHNOLOGY CORP - MERCK KGAA WILL RECEIVE 378,787
SHARES
OF CO'S COMMON STOCK HAVING VALUE OF $5 MILLION
    * PDS BIOTECHNOLOGY CORP - MERCK KGAA TO GET UPFRONT CASH
PAYMENT
OF $5 MILLION FROM DEAL
    * PDS BIOTECHNOLOGY CORP - MERCK KGAA TO TO BE ENTITLED TO
UP TO
$11 MILLION IN DEVELOPMENT, REGULATORY MILESTONE PAYMENTS IN
DEAL
    * PDS BIOTECHNOLOGY CORP - MERCK KGAA TO TO BE ENTITLED TO
UP TO
$105 MILLION IN COMMERCIAL MILESTONES IN DEAL
    * PDS BIOTECHNOLOGY CORP - MERCK KGAA TO BE ENTITLED TO 10%
ROYALTY ON FUTURE SALES OF M9241 WITH STANDARD STEP-DOWN
PROVISION

Source text for Eikon:  ID:nGNX5cgRdQ 
Further company coverage:  PDSB.O 
 ((Reuters.Briefs@thomsonreuters.com;))