Merck Reaches Collaboration Deal With Orna Therapeutics of Up to $3.75 Billion
16 August 2022 - 01:32PM
Dow Jones News
By Will Feuer
Merck & Co. said it has reached a collaboration deal with
biotechnology company Orna Therapeutics that could be valued at up
to $3.75 billion.
Merck will make an upfront payment to Orna of $150 million,
which will be expensed by Merck in the third quarter, the company
said. Orna could also receive up to $3.5 billion tied to milestones
associated with multiple vaccines and therapeutics in development.
Orna will also be eligible to receive royalties on any approved
products that come out of the collaboration.
Merck also said it will invest $100 million of equity in Orna's
recently completed Series B financing round.
Orna has developed a proprietary platform for circular RNA
research. Circular RNA, or oRNA, has numerous advantages over
traditional linear mRNA therapies such as simplified production,
increased protein expression, and a superior immunogenicity
profile, Orna said.
"This broad strategic collaboration brings together Merck's
significant expertise in nucleic acid biology, clinical
development, and manufacturing with Orna's compelling circular RNA
technology to explore the opportunity to develop a new generation
of potential vaccines and therapeutics," said Fiona Marshall, Merck
Research Laboratories senior vice president and head of discovery,
preclinical and translational medicine.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
August 16, 2022 07:17 ET (11:17 GMT)
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