Abbisko Cayman (HKG:2256) stated that Merck has exercised its global commercialization option for pimicotinib (ABSK021) under a 2023 licensing agreement, granting Merck exclusive worldwide rights to the CSF-1R inhibitor, according to a filing with the Hong Kong bourse on Tuesday.
Abbisko received an $85 million exercise fee for its option. This adds to the $70 million upfront payment received earlier, with potential total payments reaching $605.5 million.
The decision follows positive Phase III results for pimicotinib in treating tenosynovial giant cell tumor (TGCT). Abbisko continues advancing its precision oncology pipeline while maintaining collaboration with Merck.
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