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Merck's $250M option exercise doubled down on the personalized cancer vaccine thesis after mRNA-4157/V940 earned FDA Breakthrough Therapy Designation for adjuvant melanoma. The 50/50 Moderna partnership bets that individualized neoantigen vaccines can become a standard cancer treatment component.
Merck and Moderna established a collaboration to develop personalized cancer vaccines (PCVs) using Moderna's mRNA platform combined with Keytruda. In October 2022, Merck exercised its option for $250M to jointly develop and commercialize mRNA-4157/V940. Costs and profits shared 50/50. The vaccine received FDA Breakthrough Therapy Designation in 2023 for adjuvant melanoma treatment after reducing recurrence risk by 44%.
87K US cases/yr · $9.5B Global Melanoma Therapeutics (2022)
INTerpath-001 Phase III trial evaluates PCV + Keytruda vs. Keytruda alone in high-risk resected melanoma. This is the most advanced personalized cancer vaccine program in development.
Beyond melanoma, V940 is being explored in NSCLC (adjuvant) and other solid tumors. The mRNA platform could apply to any tumor with sufficient neoantigen burden.
Merck and Moderna formalized joint development and commercialization of personalized cancer vaccine mRNA-4157.
5-year data showing 49% risk reduction. Phase 3 in melanoma and NSCLC. Potential first personalized cancer vaccine.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Merck & Co. Inc. / Moderna, Inc. (this deal) | 2016 | $250M | 84 |
| Merck & Co. Inc. / Acceleron Pharma Inc. | 2021 | $11.5B | 90 |
| Merck & Co. Inc. / Peloton Therapeutics Inc. | 2019 | $2.2B | 88 |
| Merck & Co. Inc. / AstraZeneca PLC | 2017 | $8.5B | 87 |
| Merck & Co. Inc. / Moderna, Inc. | 2022 | $250M | 86 |
| Merck & Co. Inc. / Eisai Co., Ltd. | 2018 | $5.8B | 83 |
| Merck & Co. Inc. / Prometheus Biosciences Inc. | 2023 | $10.8B | 77 |
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