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Oncothyreon has granted an exclusive, worldwide license to Merck KGaA of Darmstadt, Germany (Merck KGaA) for the development, manufacture and commercialization of L-BLP25, a therapeutic vaccine currently in Phase 3 clinical trials for non-small cell lung cancer.
Per the license agreement, Oncothyreon is entitled to receive future cash payments of up to $90 million for biologics license application, or BLA, submission for first and second cancer indications, for regulatory approval for first and second cancer indications, and for sales milestones. Oncothyreon will also receive a royalty based on certain net sales thresholds, ranging from a percentage in the mid-teens to the high single digits, depending on the territory in which the net sales occur.
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