Pharma BD Deal Intelligence

Merck & Co. Inc. / Cyprumed GmbH

2025 · Licensing/Option · $493M · Complete

Cyprumed entered a non-exclusive license and option agreement with Merck & Co. (MSD outside the US and Canada) allowing Merck to develop oral formulations of its peptides using Cyprumed's oral peptide delivery technology. Cyprumed is eligible to receive up to $493 million in upfront, development, regulatory and net sales milestones tied to approval of any products under the collaboration. The split between upfront and milestone components was not disclosed.

This deal is too recent to grade. Critic Score and Outcome Score are assigned after the announcement-week coverage settles and, for Outcome, after the 5-year post-close assessment window opens — expected 2030 at the earliest for this deal, once/if it closes.

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