Limburg business lands huge contract with pharmaceutical group
Thursday, 07 January 2016
Biopharmaceutical company Complix, based in Diepenbeek (Limburg)and specialising in cancer treatments, signed a contract with multinational pharmaceutical group Merck & Co (MSD) which could be worth a total of 280 million dollars through a combination of advance payments, research funds, and milestone payments, they revealed on Wednesday. Once the first products are on the market, Complix will also get royalties from Merck & Co. Complix was set up in 2008 and has received over 20 million euros in funding from investors in various capital rounds in 2008, 2010, and 2013.
This windfall is used to finance research into a new method for curing cancer and auto-immune diseases through the introduction of small proteins inside damaged cells. Results show this blocks interactions within tumour cells, a crucial step to stop the emergence and progression of various cancers.
Merck reckon the technology is advanced enough to allow them to launch a close partnership with the Flemish company. “Our partnership with Merck is a huge step forward for Complix, and highlights the opportunities offered by our unique platform which can potentially create groundbreaking therapies to fight cancer,” says Complix CEO Dr. Mark Vaeck, delighted.