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Merck Hep C Vaccine Research Deal
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Crucell leaps after Merck deal on hepatitis vaccine
Mon Oct 10, 2005 5:03 AM ET
By Karl Emerick Hanuska and Lucas van Grinsven
AMSTERDAM, Oct 10 (Reuters) - Shares in Crucell (CRCL.AS: Quote, Profile, Research) hit a high for the year on Monday after news that pharmaceuticals giant Merck & Co. (MRK.N: Quote, Profile, Research) will use the Dutch biotech firm's technology to develop a vaccine against hepatitis C.
Traders and analysts said the announcement by Crucell (CRXL.O: Quote, Profile, Research) -- whose PER.C6 gene technology aims at using human cells as a platform to produce drugs and vaccines -- gave further evidence that the firm was on its way to turning a profit.
Merck is already using PER.C6 for its adenovirus-based HIV vaccine, which is currently in proof-of-concept Phase II or mid-stage trials.
"This deal with Merck is another milestone in the development of Crucell," said one Dutch trader.
"News like this continues to come out of the company that points to good demand for PER.C6 and to money coming in and to Crucell turning a profit."
Under the the terms of the deal with Merck, which is exercising an option to use the PER.C6 technology, Crucell will receive a $1 million exercise fee with the prospect of annual fees and milestone payments, plus royalties on net sales.
Merck intends to use PER.C6 to develop an adenovirus-based vaccine against hepatitis C -- a liver disease caused by a virus that infects around 200 million people.
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