IP Group: Artios Pharma In Oncology Research Deal With Merck KgaA

(RTTNews) - IP Group plc (IPO.L), a developer of intellectual property-based businesses, announced Thursday that the portfolio company Artios Pharma Ltd has entered into a global three-year strategic research collaboration with German healthcare major Merck KgaA. Under the deal, the companies plan to discover and develop multiple precision oncology drugs.

As part of the agreement, Artios will receive a payment of $30 million in the form of up-front and near-term payments.

If Merck chooses to exercise the option, subject to double digit option fees, Artios will be eligible to receive up to $860 million per target , in addition to up to double digit royalty payments on net sales of each product commercialised by Merck.

IP Group has an 11.7% undiluted beneficial holding in Artios that was valued at 11.0 million pounds as at 30 June 2020.

As a result of the collaboration, IP group directors anticipate that the company's assessment of the value of its holding in Artios may increase by 5 million pounds to 15 million pounds.
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