Idera is pocketing a $40 million up front fee from Merck KGaA and hopes to make an additional $381 million in milestones from licensing its technology for cancer therapies. The German Merck gains exclusive rights to Idera's two most advanced Toll-like Receptor 9 (TLR9) agonists for cancer--IMO-2055 and IMO-2125--for all uses with the exception of cancer vaccines. These Toll-like receptors are sentinels for chemicals in pathogens for cancer, infectious diseases, respiratory and autoimmune disorders. IMO-2055 has been involved in Phase I studies for solid tumors that have been unresponsive to standard therapy. Shares of Idera surged on the news.
- see the release
- here's the AP's report on the deal
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