- NGM Biopharmaceuticals (NASDAQ:NGM) has amended and restated its agreement with Merck (NYSE:MRK), to extend their ongoing collaboration but with a narrower scope.
- Under the terms of the amended collaboration, Merck will provide ~$120M in R&D funding to NGM through March 2024, plus additional potential option payments if Merck exercises any license option.
- Going forward, the collaboration will focus primarily on the development of novel medicines in retinal and cardiovascular and metabolic (CVM) diseases, including heart failure.
- Merck retains an option to license those programs being advanced under the amended collaboration.
- Merck will continue to advance MK-3655, currently in an ongoing Phase 2b clinical trial in patients with non-alcoholic steatohepatitis.
- Also, Merck retains its option to license NGM621, currently in a Phase 2 CATALINA study in patients with geographic atrophy.
- NGM gains worldwide rights to its disclosed oncology portfolio, including NGM120 (anti-GFRAL), NGM707 (anti-ILT2/ILT4) and NGM438 (anti-LAIR1), as well as all undisclosed preclinical and research assets falling outside of the amended collaboration’s narrower scope, subject to a low single digit net sales royalty to Merck.
- NGM will pursue further R&D on two undisclosed retinal targets, as well as CVM targets initially focusing on heart failure.