The Massachusetts Biologic Laboratories, a Boston lab that is part of the University of Massachusetts Medical School, will share an upfront fee of $60 million with Princeton, NJ-based biotech firm Medarex (NASDAQ:[[ticker:MEDX]]) that U.S. drug giant Merck (NYSE:[[ticker:MRK]]) is paying for an exclusive worldwide license to two monoclonal antibodies that the UMass lab and Medarex are co-developing for the treatment of clostridium diffficile infection, according to a press release. The deal also provides the UMass lab and Medarex up to $165 million in additional fees for reaching development goals related to the antibody drugs and double-digit royalties on Merck’s potential sales of the products.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
View all posts by Ryan McBride
