London-listed 4D pharma PLC entered into a research collaboration with Merck & Co. Inc. to develop vaccines in up to three undisclosed indications.
Under the terms of the deal, 4D may request that Kenilworth, N.J.-based Merck purchase $5 million worth of shares during the first year. 4D will receive an upfront payment and up to $347.5 million for each option to further develop a product candidate plus other development and regulatory milestone payments and royalties on the sales of products that are commercialized.
Merck will be responsible for development, manufacturing and commercialization of any products it chooses to pursue under the collaboration.
The companies will develop vaccines using 4D's proprietary platform called MicroRx.
