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Symphogen Grants Exclusive Worldwide License of Phase II Oncology Drug Candidate Sym004 to Merck KGaA
Date:9/5/2012

COPENHAGEN, Denmark, September 6, 2012 /PRNewswire/ --

- Symphogen Will Host a Conference Call Today (Thursday 6 September 2012) to Discuss the Announcement at 11:30 CET/ 10:30 BST, Details on How Access This Call and the Accompanying Presentation are Below.

- A novel investigational antibody mixture targeting the epidermal growth factor receptor (EGFR)

Symphogen A/S, a private biopharmaceutical company developing recombinant antibody mixtures, a class of antibody therapeutics under investigation for the treatment or prophylaxis of serious human diseases such as cancer or infectious and autoimmune diseases, today announced that an exclusive worldwide license agreement was signed with Merck KGaA, Darmstadt, Germany, for Sym004, an investigational antibody mixture targeting the epidermal growth factor receptor (EGFR). Sym004 is currently being evaluated in a Phase I/II trial for the treatment of patients with advanced KRAS wild-type metastatic colorectal cancer (mCRC) who have previously progressed on treatment with standard chemotherapy and a marketed anti-EGFR monoclonal antibody. In addition, a single-arm, open-label Phase II trial in patients with squamous cell carcinoma of the head and neck (SCCHN) who have failed anti-EGFR-based therapy is currently ongoing.

Under the agreement, Symphogen will receive from Merck an upfront payment of € 20 million. Symphogen is also eligible to receive up to € 225 million for clinical development and regulatory milestones, € 250 million in potential combined sales performance milestones and royalties on net worldwide sales. In exchange, Merck will gain exclusive worldwide rights to develop and commercialize Sym004.

"We believe that Merck is uniquely well positioned to develop Sym004 based on its deep knowledge of the EGFR area," said Kirsten Drejer, Chief Executive Officer of Symphogen. "This transaction further validates the antibody mixture approach as a highly attractive
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