XOMA has earned a $1 million milestone payment from Agenus related to Merck’s advancement of MK-4830 into a Phase 2 study in patients with advanced non-small cell lung cancer (NSCLC) previously treated with anti-programmed cell death receptor ligand 1 (PD-L1) therapy. MK-4830 is part of XOMA’s first transaction under its royalty and milestone aggregator business model in which the Company acquired a royalty interest in seven milestone and royalty-bearing licenses Agenus held with Merck and Incyte for $15 million.
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“Today’s announcement marks the first asset that the XOMA team acquired under our royalty and milestone aggregator business model to achieve a clinical milestone. We congratulate Merck on its early clinical success with MK-4830, and we hope this positive development ultimately translates into a new therapeutic option for patients with non-small cell lung cancer,” said Jim Neal, Chief Executive Officer at XOMA.