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Ariad cancer drug target awaits EU approval

Mon, 08/01/2011 - 8:47am
Mass High Tech: The Journal of New England Technology

Ariad Pharmaceuticals Inc. (Nasdaq: ARIA) has announced its partner, Merck & Co. Inc. (NYSE: MRK), has sent the companies’ joint cancer drug candidate to European regulators for approval. Once the application is accepted and the review begins, likely later this month, ARIAD will receive a $25 million milestone payment from Merck, in connection with the partnership.

If successful, the potential therapy for metastatic sarcomas, called ridaforolimus, would become the first approved drug for Cambridge-based ARIAD. Merck has said it also plans to submit the experimental treatment to regulatory agencies in the U.S., Canada, Asia-Pacific and Latin American markets.

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