Merck will pay $106m for a 15% stake in NGM as part of a five-year, $450m diabetes and obesity treatment development deal with the biotechnology company.
US-based biotechnology company NGM Biopharmaceuticals has secured a collaboration agreement with pharmaceutical company Merck that will see it receive $450m over the next five years, according to Forbes.
Merck will provide NGM with $106m in equity funding in exchange for a 15% stake, as well as a $94m upfront cash payment. It will supply the remaining money in yearly $50m instalments that will support research and development at NGM.
Merck will gain options on preclinical drug candidates through the deal…
