Pharma BD Deal Intelligence

Merck & Co. Inc. / Kelun-Biotech Biopharmaceuticals Co. Ltd.

2022 · Licensing/Option · $936M · Complete

CALLED IT — OFF BY 22
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The coverage arc

Jul 15, 2022 BioPharma Dive Bullish

Merck & Co. has expanded its antibody-drug conjugate partnership with China's Kelun-Biotech, agreeing to pay $35 million upfront for rights outside of Greater…

Jul 18, 2022 Fierce Pharma Bullish

Merck is back at the negotiating table with Kelun-Biotech, paying the Chinese biotech $35 million upfront for a second antibody-drug conjugate asset in solid…

Apr 17, 2026 Merck Press Release Bullish

Kelun-Biotech received an upfront payment of $175 million and is eligible to receive milestone payments totaling up to $9.3 billion.

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Merck licensed a second ADC candidate from Kelun-Biotech for solid tumor treatment, the second of three ADC deals in 2022.

Key facts

Related deals — scored

DealYearValueOutcome
Merck & Co. Inc. / Kelun-Biotech Biopharmaceuticals Co. Ltd. (this deal)2022$936M60
Merck & Co. Inc. / Acceleron Pharma Inc.2021$11.5B90
Merck & Co. Inc. / Peloton Therapeutics Inc.2019$2.2B88
Merck & Co. Inc. / AstraZeneca PLC2017$8.5B87
Merck & Co. Inc. / Moderna, Inc.2022$250M86
Merck & Co. Inc. / Moderna, Inc.2016$250M84
Merck & Co. Inc. / Eisai Co., Ltd.2018$5.8B83

Compare all 7 side-by-side →

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