Monday, February 23, 2015

Ed Silverman: New Merck's "Old School" Biotech Collaboration With NGM Bio

More later -- but this is fascinating. Up to $450 million over five years -- and a "go wherever your head & gut lead you" mandate. Amazing.

LATER UPDATE: Here is a rather breathless account of the deal's back and forth -- from Bloomberg. I'll not need to add. . . anything to that link. I guess Roger has known the NGM folks since at least 2004, at Amgen.

In any event -- from that gent, Ed, who had it first -- at Pharmalot, then:

. . . .Merck will provide a $94 million upfront payment and a $106 million equity investment for a 15% stake, and also fund $250 million of NGM R&D projects over the next five years, although NGM has full authority to control R&D. Merck R&D chief Roger Perlmutter and NGM chief scientific officer, Jin-Long Chen, by the way, once worked together at Amgen. . . .

Off to court, and other sundry duties!

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