Friday, December 19, 2008

Oncothyreon Sells Off Business Line To Merck

Seattle-based Oncothyreon, a developer of cancer treatments, said Thursday that it has sold off a product line to Merck, in a deal worth $13M. Oncothyreon said it sold manufacturing rights to Stimuvax to Merck, via Merck's Canadian affiliate, EMD Serono Canada. Stimuvax is a vaccine in Phase 3 clinical development, targeted at treating non-small cell lung cancer. In conjunction with the move, Oncothyreon said that EMD Serono Canada will offer job to a majority of Oncothyreon's 52 employees in Edmonton, Ontario.