OncoMed, Bayer in cancer deal

OncoMed Pharmaceuticals Inc. (Redwood City, Calif.) and Bayer AG (Xetra:BAY) partnered to discover and develop antibodies, proteins and small molecules targeting the Wnt signaling pathway to treat cancer. The deal includes OncoMed's lead Wnt pathway antibody, OMP-18R5, which is expected to begin Phase I testing next year. OncoMed will receive $40 million up front and is eligible for $387.5 million in milestones per antibody or protein therapeutic program, plus double-digit royalties. For each small molecule, OncoMed is eligible for $112 million in milestones, plus single-digit royalties. ...