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Full analysis, sources & comparables →Merck has exercised its option to co-develop and co-commercialize Moderna's individualized neoantigen cancer vaccine mRNA-4157/V940, paying $250 million for a…
During the third quarter of 2022, Merck exercised its option pursuant to the existing collaboration and license agreement for mRNA-4157, our investigational…
Five-year KEYNOTE-942 data for intismeran autogene plus KEYTRUDA presented at the 2026 ASCO Annual Meeting, confirming durable recurrence-free and…
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Merck exercised its option (under the 2016 Merck/Moderna collaboration) to jointly develop and commercialize Moderna's individualized neoantigen therapy mRNA-4157/V940 (now INN: intismeran autogene), paying Moderna a $250M option-exercise payment. Following the exercise the companies share future development costs and profits 50/50 worldwide; the $250M payment was confirmed in Moderna's Q3 2022 10-Q, so the option exercise is complete. The decision came weeks before the Phase 2b KEYNOTE-942 readout, which in December 2022 met its primary endpoint of recurrence-free survival in combination with KEYTRUDA in resected high-risk stage III/IV melanoma. The program subsequently advanced to pivotal Phase 3 (INTerpath-001 in adjuvant melanoma, NCT05933577, now fully enrolled; INTerpath NSCLC studies enrolling), with eight Phase 2/3 trials underway across melanoma, NSCLC, bladder cancer and renal cell carcinoma. Five-year KEYNOTE-942 data (announced Jan 20 2026 and presented at the 2026 ASCO Annual Meeting) showed sustained RFS benefit (HR 0.510; 49% reduction in risk of recurrence or death) versus KEYTRUDA alone.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Merck & Co. Inc. / Moderna Inc. (mRNA-4157/V940 option exercise) (this deal) | 2022 | $250M | — |
| 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. / Moderna, Inc. | 2016 | $250M | 84 |
| Merck & Co. Inc. / Eisai Co., Ltd. | 2018 | $5.8B | 83 |
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