and privately held Orna Therapeutics said Tuesday they have agreed to collaborate
to discover and develop programs, including vaccines and therapeutics, in the fields of infectious disease and oncology. Under the terms of the deal, Merck will make an upfront payment of $150 million, to be expensed in the third quarter and included in non-GAAP results. Orna will be eligible to receive up to $3.5 billion in milestone payments on reaching certain regulatory and sales goals, as well as royalties on any approved products. "Orna will retain rights to its oRNA-LNP technology platform and will continue to advance other wholly owned programs in areas such as oncology and genetic disease," the companies said in a joint statement. "Merck will also invest $100 million of equity in Orna's recently completed Series B financing round." Merck shares were slightly lower premarket, but have gained 18% in the year to date, outperforming the S&P 500 , which has fallen 10%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.Weiter zum vollständigen Artikel bei "Market Watch"