Threshold Pharmaceuticals Incorporated - symbol THLD - reported that a
global agreement was signed with Merck KGaA, Darmstadt, Germany, to
co-develop and commercialize TH-302, Threshold's small molecule
hypoxia-targeted drug.
Threshold will receive an upfront payment
of $25 million and could receive up to $35 million in additional
development milestones during 2012. Threshold is also eligible to
receive a $20 million milestone payment based on positive results from
its randomized Phase 2 trial in pancreatic cancer. Total potential
milestone payments are $525 million, comprised of $280 million in
regulatory and development milestones and $245 million in sales-based
milestones.
Threshold Pharmaceuticals is a biotechnology company
focused on the discovery and development of drugs targeting tumor
hypoxia, the low oxygen condition found in microenvironments of most
solid tumors as well as the bone marrows of patients with some
hematologic malignancies.
Thanks for joining me and have a great day! For CRWE Newswire, Stocks to watch, I'm Shalika Jayasekera.
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