Shots:

• Merck exercises its option to extend its Feb-2015 agreement with NGM for development and commercialization of novel biologics therapies. NGM to receive $20M as an extension fee for R&D activities during the two-year extension period in Mar 2021 & 2022
• As part of the collaboration- in Jan-2019 Merck in-licensed NGM's NASH therapy NGM313 (MK-3655)- being evaluated in P-IIb for liver histology and glucose control in NASH patients
• Merck also terminates its license to NGM’s (GDF15) receptor program including NGM386 and NGM395 due to its inefficiency to produce weight loss in obesity. Upon termination- NGM to get an exclusive license & royalties on future sales of GDF15’s products     

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Ref: Merck | Image: Merck