BERLIN (dpa-AFX) - On Monday, Biolojic Design announced a partnership with Merck KGaA (MKGAF.PK) to utilize artificial intelligence to design therapeutic antibodies for the treatment of cancer and immunological disorders.
Under the agreement, Biolojic Design would receive a low double-digit million euro upfront payment and research funding from the German company, and be eligible for drug discovery, development, regulatory and commercial milestone payments that may total up to 346 million euros, the company stated.
Currently, Merck's stock is trading at $182.49, down 0.89 percent on the OTC Markets.
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