Merck updates on pipeline including avelumab development

German pharma company Merck KGaA (MRK: DE) issued an update on its pipeline, primarily that it has begun investigating a novel, potential first-in-class bi-functional immunotherapy that would be an alternative to anti-PD-1/anti-PD-L1 therapies.

It also demonstrated good progress in its avelumab development program, which is being executed in conjunction with Pfizer (NYSE: PFE). The two companies expect a potential first launch in 2017. Merck is currently on-track to meet the goal set in 2015 of collaborating on up to 20 clinical programs, including initiating up to six clinical trials. The US Food and Drug Administration granted orphan drug designation for avelumab in Merkel cell carcinoma in September.

In addition, Merck gave details on its investigational molecule, M7824, for which it has initiated and treated the first patient in a Phase I, open-label, multiple-ascending clinical trial, targeting to enroll 106 patients.