Vertex sells rights to four cancer programs to Merck

Germany’s Merck KGaA (MRK: DE) has entered into a licensing agreement with Vertex Pharmaceuticals (Nasdaq: VRTX) for the worldwide development and commercialization of four promising research and development programs that represent novel approaches to the treatment of cancer.

"With this strategic deal, we significantly strengthen our oncology pipeline in two attractive areas where we have leading competence, DNA damage and repair and immuno-oncology—areas which also have promising therapeutic synergy," says Belén Garijo, chief executive healthcare and a member of the Merck executive board. "This deal underscores our commitment to accelerate innovation for cancer patients, and we are excited for the opportunity to build on Vertex's rigorous science and advance these leading programs."

Vertex to get $230 million upfront