- Merck receives $700 million from Blackstone for sac-TMT development costs through 2026.
- Sac-TMT is an investigational ADC targeting TROP2, evaluated in 15 Phase 3 trials.
- Blackstone to receive low-to-mid single-digit royalties on sac-TMT sales post-approval.
- Merck retains control over sac-TMT's development, manufacturing, and commercialization.
Funding Agreement
Merck has entered into a funding agreement with Blackstone Life Sciences to support the development of sacituzumab tirumotecan (sac-TMT), an investigational antibody-drug conjugate (ADC). Blackstone will provide $700 million to cover part of the development costs through 2026.
Clinical Trials
Sac-TMT is being evaluated in 15 global Phase 3 clinical trials across six tumor types, including breast, endometrial, and lung cancers. The ADC targets TROP2, a protein found on various cancer cells, and aims to deliver cytotoxic effects specifically to TROP2-expressing tumor cells.
Royalty Agreement
In return for the funding, Blackstone is eligible to receive low-to-mid single-digit royalties on net sales of sac-TMT, contingent upon regulatory approval in the U.S. for first-line treatment of triple-negative breast cancer based on the TroFuse-011 clinical trial findings.
Development and Collaboration
Sac-TMT is developed under an exclusive license and collaboration agreement with Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. Merck retains decision-making authority and control over the development, manufacturing, and commercialization of sac-TMT, while Blackstone will not receive any rights to the drug.
