OPKO subsidiary ModeX licenses EBV vaccine to Merck for $50M upfront, up to $872.5M milestones

OPKO HEALTH, INC.

ModeX grants Merck exclusive worldwide license for MDX-2201, a preclinical nanoparticle vaccine targeting EBV.
OPKO receives $50M upfront; eligible for up to $872.5M in development and commercial milestones.
Tiered royalties from high single digits to low double digits on global sales of the vaccine product.
Joint research program until IND filing; Merck to lead clinical development and commercialization thereafter.
A portion of payments may be payable to Sanofi under ModeX's prior in-license agreement.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

OPKO HEALTH, INC. entered into License and Research Collaboration Agreement with Merck Sharp & Dohme LLC valued at $50 million initial payment, up to $872.5 million milestones, tiered royalties high single digits to (effective 2023-03-08).

Action: entry
Agreement: license
Counterparty: Merck Sharp & Dohme LLC
Value: $50 million initial payment, up to $872.5 million milestones, tiered royalties high single digits to
Effective: 2023-03-08

Exact text from the filing

On March 8, 2023, ModeX Therapeutics, Inc. (“ ModeX ”), a wholly-owned subsidiary of OPKO Health, Inc. (“ OPKO ”), OPKO with respect to certain sections, and Merck Sharp & Dohme LLC (“ Merck ”) entered into a License and Research Collaboration Agreement (the “ Agreement ”) pursuant to which Merck obtained from ModeX a license to certain patent rights and know-how of ModeX.

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Source: SEC EDGAR

accession 0000944809-23-000015

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