Dec. 22 Quick Takes: Mersana picks Merck KGaA for its third ADC deal of 2022 

Mersana Therapeutics Inc. (NASDAQ:MRSN) will leverage its immunostimulatory antibody-drug conjugate platform to discover STING agonist antibody conjugates for up to two targets in its third major collaboration of 2022 — this one with Merck KGaA (Xetra:MRK). Mersana will receive an upfront payment of $30 million, and is eligible for up to $800 million in regulatory, development and commercial milestones, plus tiered royalties up to low double-digits. Its two other ADC deals this year brought Mersana $100 million up front from GSK plc (LSE:GSK; NYSE:GSK) in August and $40 million up front from Johnson & Johnson (NYSE:JNJ) in February. 

Eli Lilly and Co. (NYSE:LLY) expanded its 2021 deal with ProQR Therapeutics N.V. (NASDAQ:PRQR) to discover, develop and commercialize RNA editing therapies targeting the liver and nervous system. The expanded deal grants Lilly access to ProQR’s Axiomer RNA editing platform for additional targets in the CNS and peripheral nervous system, and gives ProQR a combined $75 million in upfront payment and equity investment; Lilly has the option to further expand the partnership for an additional $50 million, and can choose to grant ProQR access to its delivery technology for the biotech’s wholly owned pipeline. The move builds on Lilly’s commitment to DNA and RNA therapies via its Lilly Institute for Genetic Medicine, launched this year with $700 million, and on ProQR’s growing focus on oligo therapies that induce A-to-I RNA edits after its antisense oligonucleotide therapy sepofarsen missed in Phase I/II testing for the rare eye disease LCA10...