Batch of licensing deals announced by Merck KGaA, Novartis and Roche

Three European drug majors announced- in and out-licensing deals yesterday, although on a much smaller scale than some of the mega deals running into the 'billion dollar' transactions revealed of late.

Germany's Merck KGaA has signed an agreement with Immunovaccine to out-license EMD 640744 targeting multiple solid tumors and hematological malignancies. Immunovaccine intends to build on the current ongoing P1 study for EMD 640744 by formulating it in its DepoVax delivery system. Under the deal, Immunovaccine will assume exclusive worldwide rights to develop and commercialize the survivin-based vaccine for multiple cancer indications. Merck will receive success-based milestone payments, plus royalties on product sales. Specific financial details were not disclosed.

Also, Switzerland's Novartis has obtained a licence to further develop and commercialize two Nanobodies against two undisclosed complex targets from Belgium-based Ablynx for an upfront fee and license payment of 1 million euros ($1.3 million). Under this research agreement, entered into in 2005 and extended last year, Novartis will be assuming responsibility for the development of both programs and Ablynx will be eligible to receive development based milestone payments, plus royalties on sales of resulting products