Merck agrees $1 billion deal with Debiopharm for head and neck cancer drug

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Germany's Merck KGgA said on Monday it has agreed to pay Swiss biotech Debiopharm up to 900 million euros ($1.08 billion) to develop and commercialise Xevinapant for head and neck cancer.

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FILE PHOTO: A logo of drugs and chemicals group Merck KGaA is pictured in Darmstadt, Germany January 28, 2016. REUTERS/Ralph Orlowski

Under the terms of the licensing deal, Merck will pay Debiopharm 188 million euros upfront and has agreed to further regulatory and commercial milestones worth up to 710 million euros, as well as royalties. Xevinapant is currently in late-stage testing for previously untreated locally advanced squamous cell carcinoma of the head and neck, in combination with current standard of care.

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