Merck to pay $290M in oncology partnership with Orion

Kenilworth, N.J.-based Merck will pay Orion $290 million in a global development and commercialization agreement for the Finland-based pharmaceutical company's oral inhibitor that aims to treat advanced prostate cancer. 

The two companies will co-develop and co-commercialize ODM-208, which is currently in a phase 2 clinical trial, but the contract allows for Merck to wield a global exclusive license if it wants to, according to a July 13 press release. 

The treatment targets metastatic castration-resistant prostate cancer by focusing on subduing steroid hormones.

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