Web Date: April 16, 2012
Merck Licenses Endocyte Drug
Merck & Co. has agreed to pay Endocyte, a West Lafayette, Ind.-based biotech company developing small-molecule drug conjugates, up to $1 billion for access to the cancer agent vintafolide and a companion diagnostic.
Under the pact, Endocyte gets $120 million up front and up to $880 million in milestone payments if the drug gains approval to treat multiple types of cancer. Endocyte will be responsible for paying for most . . .
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