Shots:

• NGM to receive ~ $120M as research & development funding through Mar’24- including ~$86M for the period from Apr’21 through Mar’22 & additional option payments if Merck exercises license option
• The collaboration will initially focus on retinal and CVM diseases with NGM621 and MK-3655. Merck retains its option to license NGM621- currently being evaluated in the P-III CATALINA study for geographic atrophy
• NGM to get WW rights to its disclosed oncology portfolio including NGM120- NGM707- & NGM438- preclinical- current- and future research- assets falling outside of the amended collaboration’s narrower scope- in exchange to which Merck will receive royalties

Ref: Globe Newswire | Image: Merck