Advertisement

Ariad Pharmaceuticals Inc. will be getting a $25 million milestone payment from partner Merck, as the bone cancer drug they are working on has moved further toward approval in the European Union, just months after the deal between the two companies was expanded.

According to a release from Merck (NYSE:MRK), the European Medicines Agency has completed an administrative validation process of the application for approval of the drug ridaforolimus, an investigational oral mTOR inhibitor developed for the treatment of metastatic sarcomas of connective tissue or bone in patients who showed a good response to chemotherapy. Merck also recently submitted a new drug application (NDA) for ridaforolimus to the U.S. Food and Drug Administration, which will determine within the next 60 days whether it will accept Merck’s application.

SOURCE

Advertisement
Advertisement