-Merck KGaA, Darmstadt, Germany licenses two promising clinical-stage
programs targeting DNA damage and repair, and two novel pre-clinical
programs-
-Vertex receives upfront payment of $230 million plus royalties on
future sales-
BOSTON--(BUSINESS WIRE)--
Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced that
it has entered into a licensing agreement with Merck KGaA, Darmstadt,
Germany for the worldwide development and commercialization of four
promising research and development programs that represent novel
approaches to the treatment of cancer. As part of the agreement, Merck
KGaA, Darmstadt, Germany will license two clinical-stage programs
targeting DNA damage and repair, along with two additional novel
pre-clinical programs. Vertex will receive an upfront payment of $230
million, in addition to royalties on future net sales. Merck KGaA,
Darmstadt, Germany will assume full responsibility for the development
and commercialization of all the programs.
"The Vertex R&D team has produced a portfolio of first-in-class
compounds with the potential to enhance the therapy of multiple
cancers," said Jeffrey Leiden, M.D., Ph.D, Chairman, President and CEO
of Vertex. "We are pleased to partner with Merck KGaA, Darmstadt,
Germany, a leader in oncology with exciting complementary assets that
will help fully realize the value of these unique compounds and
accelerate the programs' potential benefits for patients."
"With this strategic deal, we significantly strengthen our oncology
pipeline in two attractive areas where we have leading competence, DNA
damage and repair and immuno-oncology - areas which also have promising
therapeutic synergy," said Belen Garijo, CEO Healthcare and Member of
the Executive Board of Merck KGaA, Darmstadt, Germany. "This deal
underscores our commitment to accelerate innovation for cancer patients,
and we are excited for the opportunity to build on Vertex's rigorous
science and advance these leading programs."
The two clinical-stage programs represent first-in-class approaches to
inhibit the DNA repair pathways that are fundamental to the survival and
proliferation of certain cancers:
-
An ataxia telangiectasia and Rad3 related (ATR) protein kinase
inhibitor program comprised of two compounds, VX-970 and VX-803.
VX-970 is being investigated broadly through 10 ongoing Phase 1 and
Phase 2 trials across a variety of tumors and patient subtypes
expected to be responsive to ATR inhibition based on biomarker data.
Preliminary VX-970 clinical data were presented at the 2016 American
Society of Clinical Oncology (ASCO) Annual Meeting and the 2016
American Association for Cancer Research (AACR) Annual Meeting. VX-803
is an orally dosed ATR inhibitor currently in Phase 1 trials
evaluating escalating doses of VX-803 alone and in combination with
chemotherapy.
-
A DNA-dependent protein kinase (DNA-PK) inhibitor program including
the clinical candidate VX-984. A Phase 1 trial is now evaluating
escalating doses of VX-984 alone and in combination with pegylated
liposomal doxorubicin in subjects with advanced solid tumors. Merck
KGaA, Darmstadt, Germany will combine these assets with its existing
DNA-PK assets into a single development program.
The pre-clinical programs include one immuno-oncology program against an
attractive target with first-in-class potential, and a program against a
completely novel target. For both of these programs, Vertex research has
demonstrated efficacy in relevant pre-clinical models, including
demonstration of combination potential with immune checkpoint inhibition
for the immuno-oncology program. Merck KGaA, Darmstadt, Germany will
continue to characterize the Vertex compounds in these programs with the
goal of taking them forward into the clinic.
The strength of the oncology R&D program at Merck KGaA, Darmstadt,
Germany, including a leading presence in immunotherapy and DNA damage
and repair, demonstrates how the company is re-imagining the way cancer
can be treated.
The collaboration, and the related $230 million upfront payment, is
subject to the expiration of the waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act.
About Vertex
Vertex is a global biotechnology company that aims to discover, develop
and commercialize innovative medicines so people with serious diseases
can lead better lives. In addition to our clinical development programs
focused on cystic fibrosis, Vertex has more than a dozen ongoing
research programs aimed at other serious and life-threatening diseases.
Founded in 1989 in Cambridge, Mass., Vertex today has research and
development sites and commercial offices in the United States, Europe,
Canada and Australia. For seven years in a row, Science magazine
has named Vertex one of its Top Employers in the life sciences. For
additional information and the latest updates from the company, please
visit www.vrtx.com.
About Merck KGaA, Darmstadt, Germany
Merck KGaA, Darmstadt, Germany is a leading science and technology
company in healthcare, life science and performance materials. Around
50,000 employees work to further develop technologies that improve and
enhance life - from biopharmaceutical therapies to treat cancer or
multiple sclerosis, cutting-edge systems for scientific research and
production, to liquid crystals for smartphones and LCD televisions. In
2015, Merck KGaA, Darmstadt, Germany generated sales of €12.85 billion
in 66 countries.
Founded in 1668, Merck KGaA, Darmstadt, Germany is the world's oldest
pharmaceutical and chemical company. The founding family remains the
majority owner of the publicly listed corporate group. Merck KGaA,
Darmstadt, Germany holds the global rights to the Merck KGaA, Darmstadt,
Germany name and brand. The only exceptions are the United States and
Canada, where the company operates as EMD Serono, MilliporeSigma and EMD
Performance Materials.
Special Note Regarding Forward-looking Statements
This press release contains forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995, including, without
limitation, the statements in the second and third paragraph of the
press release and statements regarding (i) the upfront payment, which is
subject to the expiration of the waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act, and (ii) potential royalty
payments. While Vertex believes the forward-looking statements contained
in this press release are accurate, these forward-looking statements
represent the company's beliefs only as of the date of this press
release and there are a number of factors that could cause actual events
to differ materially from those indicated by such forward-looking
statements. These risks and uncertainties include, among other things,
the risks listed under Risk Factors in Vertex's annual report and
quarterly reports filed with the Securities and Exchange Commission and
available through the company's website at www.vrtx.com.
Vertex disclaims any obligation to update the information contained in
this press release as new information becomes available.
(VRTX-GEN)
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Vertex Pharmaceuticals Incorporated
Investors:
Michael
Partridge, 617-341-6108
or
Eric Rojas, 617-961-7205
or
Zach
Barber, 617-341-6470
or
Media: mediainfo@vrtx.com
North
America:
Heather Nichols, +1 617-839-3607
or
Europe & Australia:
Megan
Goulart, +44 20 3204 5275
Source: Vertex Pharmaceuticals Incorporated
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