Symphogen has announced that it has received a milestone payment from Merck KGaA, Darmstadt, Germany, related to the successful achievement of specific development objectives for Sym004, an investigational antibody mixture targeting the epidermal growth factor receptor (EGFR).
Out-licensed world-wide by Symphogen to Merck in September 2012, Sym004 was the subject of two data presentations at the 2013 ASCO Annual Meeting in Chicago, IL, earlier this month.
Specifically, Sym004 reported Phase 2 proof-of-concept data in squamous cell carcinoma of the head & neck (SCCHN) and in metastatic colorectal cancer that signaled clinical activity and were supportive of the anticipated mixture’s mechanism of action.
“We are pleased to achieve meaningful progress so early in our collaboration,” said Kirsten Drejer, Chief Executive Officer of Symphogen.
Drejer continued, “This payment substantially enhances the financial position of Symphogen and demonstrates our commitment to assisting Merck KGaA to advance this promising program.”