MRC Technology monetizes royalties on cancer drug Keytruda
UK medical research charity MRC Technologyhas monetized a portion of its royalty interest in a leading cancer drug, pembrolizumab - marketed by Merck & Co (NYSE: MRK) as Keytruda - with a private equity fund managed by DRI Capital (DRI) for $150 million (£115.6 million).
Pembrolizumab is a new generation treatment which stimulates the body’s immune system to fight cancer. Scientists at MRC Technology humanized the antibody-based treatment, which has been approved in the USA for treating advanced melanoma and non-small cell lung cancer, with Breakthrough designations under Food and Drug Administration’s accelerated approval pathway awarded for colorectal cancer and classical Hodgkin lymphoma. A number of trials in other cancers are showing promising results.
Monetization will allow MRC to invest in other research areas
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