Artios picks Germany’s Merck for first major pharma collaboration in synthetic lethality

Artios’ deal with German pharma Merck represents the latest vote of confidence in the DNA damage repair sector, and extends the privately held biotech’s cash runway as it prepares for its first clinical trials.

For its $30 million up front and near-term payments to U.K.-based Artios Pharma Ltd., Merck KGaA (Xetra:MRK) will receive exclusive options to develop precision oncology programs against up to eight nuclease targets. The deal includes double-digit option fees, $860 million in milestones per target, and double-digit royalties...