Merck drops development of NGM eye drug after weak data

22 December 2022

In a filing with the US Securities and Exchange Commission (SEC), NGM Biopharmaceuticals (Nasdaq: NGM) has revealed its partner Merck & Co (NYSE: MRK) will pass on development of ophthalmic products.

NGM Bio said Merck had verbally notified the company it will “not exercise its option to license NGM621 and its related compounds.”

The outcome follows poor Phase II results for the candidate, which is being developed for geographic atrophy secondary to age-related macular degeneration (AMD).

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