Shots:

• Merck has signed a definitive agreement with Curon to acquire CN201 (bispecific antibody) that was well-tolerated & showed its ability to induce significant & sustained B-cell reduction in early studies
• As per the agreement, Curon will receive $700M upfront in cash plus $600M development & regulatory milestones and Merck will receive full worldwide rights of CN201. The transaction is set to close in Q3’24 & will be treated as an asset acquisition
• CN201 is currently under P-I study to treat r/r non-Hodgkin’s lymphoma & P-Ib/II study to treat r/r B-cell acute lymphocytic leukemia. Merck aims further to explore CN201 for B-cell malignancies & autoimmune diseases