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Biotech / Medical : Geron Corp.

GERN 1.180

-0.8%

Nov 28 9:30 AM EST

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To: Savant who wrote (2838)	7/18/2005 9:06:14 AM
From: Jon Koplik	Read Replies (2) of 3576

Reuters -- Geron says Merck in cancer vaccine license deal ......................... Monday Jul 18, 2005 8:02 AM ET CHICAGO, July 18 (Reuters) - Biotech company Geron Corp.(GERN.O: Quote, Profile, Research) said on Monday it has entered a licensing deal with drugmaker Merck & Co.(MRK.N: Quote, Profile, Research)to develop a cancer vaccine that targets telomerase, an enzyme involved in tumor growth. Geron's shares rose 16.3 percent to $10 in premarket trade Monday on the Inet electronic brokerage, from a close of $8.60 Friday on Nasdaq. Under the terms of the agreement, Geron will receive an upfront payment, milestone payments upon achievement of certain development and regulatory events and royalties. Merck has also agreed to buy equity in Geron at a future date as part of Geron's next round of financing. Additional terms were not disclosed. Geron said Merck also acquired the option to negotiate a separate deal for its dendritic cell-based telomerase vaccine currently in Phase I/II clinical trials. Dendritic cells are responsible for detecting foreign matter and instructing cancer-killing cells to attack the tumor. Geron will receive an option payment from Merck in consideration for the option. The structure and terms of an agreement for the dendritic cell vaccine will be negotiated should Merck exercise its rights under the option. © Reuters 2005. All Rights Reserved.

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