Agenus enters into agreement with Merck for development of therapeutic antibodies Agenus Inc.

Merck will be responsible for clinical development and commercialization of applicants generated beneath the collaboration. Related StoriesMeat-rich diet may increase kidney cancer riskScientists discover small molecule that can block growth of BRCA-deficient cancer cellsNew RNA check of blood platelets may be used to detect location of cancer Under the conditions of the agreement, Agenus is permitted receive approximately $100 million in potential payments linked to the completion of certain clinical, regulatory and industrial milestones for two candidates from Merck.Allergan said its 2015 earnings-per-share forecast provided on, may 11, 2015 is certainly unchanged due to the acquisition. Allergan remains committed to de-levering to below 3.5x debt to Modified EBITDA by the end of the 1st quarter of 2016. The agreement gives Allergan privileges to two CGRP receptor antagonists: MK-1602, an oral little molecule antagonist for the severe treatment of migraines. A stage 2 research of MK-1602 offers been finished and end of stage 2 discussions with FDA are planned prior to initiating phase 3. A phase 3 study is expected to begin in 2016. MK-8031, an oral little molecule antagonist for the prevention of migraines. A phase 2 study of MK-8031 is expected to begin in 2016. In 2011 July, Merck announced that it got discontinued clinical development of a youthful investigational oral CGRP antagonist, Telcagepant , after some patients showed proof liver toxicity.