Threshold Pharmaceuticals hits clinical milestone in collaboration with Merck Serono

Threshold Pharmaceuticals has announced news of successful results from its phase 2b trial of TH-302 in patients with pancreatic cancer. The results of the study will trigger a $20 million milestone payment from Merck Serono. The payment will follow an agreement, signed earlier this month, which saw Merck Serono receive co-development and exclusive global commercialization rights for TH-302. Threshold retained an option to co-commercialize the drug in the US. Threshold saw its shares rise 70% on the news.