In June 2014, Mersana announced a collaboration with Merck Serono, the biopharmaceutical division of Merck KGaA. Merck is providing antibodies for Mersana to make Fleximer antibody-drug conjugates (ADCs) against multiple undisclosed oncology targets. Mersana will generate Fleximer-ADCs, and conduct certain drug discovery and preclinical development activities, whereas Merck KGaA is responsible for clinical development, regulatory submissions and commercialization. Mersana received an upfront payment and is eligible to receive payments for undisclosed milestones and will receive royalties on worldwide net sales of resulting ADC products.
Takeda Pharmaceutical Co. Ltd.
In April 2014, Takeda signed an agreement with Mersana through its wholly owned subsidiary, Millennium Pharmaceuticals, Inc. Under that agreement, Takeda provided an upfront payment to Mersana for the right to utilize Fleximer technology to develop novel ADC candidates for indications in oncology. Mersana is currently conducting research and creating ADCs that are conjugates of Takeda’s antibodies and Mersana’s diverse payload platforms, which combine a cytotoxic payload with the Fleximer polymer and custom linkers. In addition to providing antibodies, Takeda is responsible for product development, manufacturing and commercialization of any Fleximer-ADC products. Mersana remains eligible to receive milestone payments and royalties on worldwide net sales of any resulting ADC products. When Takeda exercised its option for commercial rights to the first ADC product, Mersana received a license fee.
In January 2015, the partners expanded their collaboration to include additional oncology-relevant targets. Mersana is eligible to receive additional upfront and milestone payments potentially totaling over $300 million under the expanded collaboration subject to future success of the programs. Mersana is eligible to receive additional upfront and milestone payments potentially totaling over $300 million under the expanded collaboration subject to future success of the programs.
In August 2012, Mersana announced a first of its kind alliance with Adimab which will enable next-generation ADC discovery and development for top 25 pharmaceutical companies. Through this collaboration, Adimab and Mersana will offer potential pharmaceutical partners integrated access to Adimab's world-class antibodies, which have been optimized for use in ADCs, together with Mersana's Fleximer polymer and broad array of customizable linkers for attaching diverse, potent payloads.
In March 2012, Mersana announced a collaboration, worth potentially more than $270 million, with Endo Pharmaceuticals to develop next-generation antibody-drug conjugates (ADCs) against a single cancer target using Mersana's proprietary conjugation technology. Under the terms of the agreement, Endo will pay an upfront fee to Mersana, who is responsible for conducting research and creating ADCs that are conjugates of the Company's diverse, highly potent cytotoxic payloads, its Fleximer polymer and custom linkers, and Endo's novel antibodies. Endo is responsible for product development, manufacturing and commercialization of any Fleximer-ADC products. Mersana and Endo may mutually agree to pursue two additional targets over the next two years. Mersana is eligible to receive progress-dependent milestones as well as royalties on worldwide net sales of any resulting ADC products.