NewLink Receives Milestone from Merck for Ebola Vaccine CandidateBy
NewLink Genetics Corporatio has received notification from Merck & Co. that the milestone event specified in the license and collaboration agreement between the two companies relating to the further development of the rVSV-EBOV (Ebola) vaccine candidate had been achieved. Under the terms of the agreement, NewLink Genetics will receive a payment of $20 million in connection with the achievement of the milestone. The milestone pertains to the initiation of a key clinical trial for the vaccine.
The rVSV-EBOV vaccine candidate was originally developed by the Public Health Agency of Canada (PHAC), and licensed by BioProtection Systems, Inc., a wholly owned subsidiary of NewLink Genetics Corporation. PHAC will be entitled to a payment from NewLink Genetics in connection with this milestone.
In November 2014, Merck entered into an exclusive worldwide license agreement with NewLink Genetics pursuant to which Merck obtained an exclusive license to research, develop, manufacture, and distribute the investigational rVSV-EBOV (Ebola) vaccine candidate as well as any follow-on products.
Source: NewLink Genetics