Merus (MRUS) has agreed to give Partner Therapeutics an exclusive license to commercialize zenocutuzumab for the potential treatment of NRG1 fusion-positive cancer in the US, the companies said Monday.
Financial details of the licensing agreement weren't disclosed.
Under terms of the agreement, Partner Therapeutics will assume the full rights following a specified transition period.
In exchange, Merus will receive an upfront payment and is eligible to receive milestones and high single-digit to low double-digit royalty payments based on the annual net sales.
The US Food and Drug Administration is currently reviewing a Biologics License Application for zenocutuzumab for the treatment of patients with previously treated NRG1 fusion-positive non-small cell lung and pancreatic cancers, the companies added.
Shares of Merus were up around 3% in recent Monday premarket activity.
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