Merck & Co will pay NGM Biopharmaceuticals $96m up front and spend $106m to own a 15% share of the privately-held company and the big pharma will provide at least $250m during the next five to fund research and development through Phase II for novel biologics across a wide range of diseases.
The transaction gives Merck an initial license for NP201, a preclinical candidate for the treatment of diabetes, obesity and non-alcoholic steatohepatitis (NASH), but the agreement excludes South San Francisco-based NGM's clinical program NGM282 for primary biliary cirrhosis (PBC) and NASH
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