Symphogen Grants Exclusive Worldwide License of Phase II Oncology Drug Candidate Sym004 to Merck

COPENHAGEN, DENMARK – Symphogen A/S, a private biopharmaceutical company developing recombinant antibody mixtures, today announced that an exclusive worldwide license agreement was signed with Merck KGaA, Darmstadt, Germany, for Sym004, an investigational antibody mixture targeting the epidermal growth factor receptor (EGFR). Sym004 is currently being evaluated in a Phase I/II trial for the treatment of patients with advanced KRAS wild-type metastatic colorectal cancer (mCRC) who have previously progressed on treatment with standard chemotherapy and a marketed anti-EGFR monoclonal antibody. In addition, a single-arm, open-label Phase II trial in patients with squamous cell carcinoma of the head and neck (SCCHN) who have failed anti-EGFR–based therapy is currently ongoing.
 
Under the agreement, Symphogen will receive from Merck an upfront payment of € 20 million. Symphogen is also eligible to receive up to € 225 million for clinical development and regulatory milestones, € 250 million in potential combined sales performance milestones and royalties on net worldwide sales. In exchange, Merck will gain exclusive worldwide rights to develop and commercialize Sym004.
 
About Symphogen
Symphogen is developing antibody therapeutics (monoclonal, monoclonal mixtures and polyclonal) to help people with serious diseases and significant unmet medical needs. With its proprietary Symplex™ discovery, SymSelect™ lead selection and Sympress™ manufacturing platforms, the company captures the diversity and specificity of the natural immune response in rationally designed recombinant antibody mixtures. Symphogen is maturing a diversified pipeline of internal and partnered products across multiple indications including cancer, autoimmune and infectious disease. Symphogen is a private biopharmaceutical company headquartered in Copenhagen, Denmark, with a US subsidiary in Princeton, New Jersey. For more information, please visit www.symphogen.com.
 
About Merck Serono
Merck Serono is the biopharmaceutical division of Merck KGaA. With headquarters in Darmstadt, Germany, Merck Serono offers leading brands in 150 countries to help patients with cancer, multiple sclerosis, infertility, endocrine and metabolic disorders as well as cardiovascular diseases. In the United States and Canada, EMD Serono operates as a separately incorporated subsidiary of Merck Serono.
 
About Merck
Merck is a global pharmaceutical and chemical company with total revenues of €10.3 billion in 2011, a history that began in 1668, and a future shaped by more than 40,000 employees in 67 countries. Merck's operating activities come under the umbrella of Merck KGaA. In 1917 the U.S. subsidiary Merck & Co. was expropriated and has been an independent company ever since.
 
For more information, please visit www.merckserono.com or www.merckgroup.com.