Kineta to Receive $5M milestone payment from Merck

Kineta (KA) achieved a development milestone which triggers a $5M payment from its research and development collaboration with Merck (MRK). This collaboration, focused on the discovery and development of novel candidates for the treatment of amyotrophic lateral sclerosis – ALS -, originated from an agreement between Yumanity Therapeutics and Merck. Following this milestone, Merck will assume sole responsibility for all future development and commercialization of the ALS program. Under the collaboration and license agreement, Kineta is eligible to receive additional milestone payments totaling up to $255M associated with the successful development of marketed products for pipeline programs, as well as royalties on worldwide net sales.