{"success":true,"data":{"pressRelease":{"id":"153840","rtpr_id":"nBw7Fz6F2a-20260928","ticker":"MRK","exchange":"NYSE","all_tickers":["MRK"],"title":"Merck Enters into Exclusive Global License Agreement with SciBrunch Therapeutics for SPR2015, an Investigational Oral KRAS G12D (ON) Inhibitor","author":"Business Wire","published_at":"2026-09-28T10:45:00.156Z","article_body":"Merck Enters into Exclusive Global License Agreement with SciBrunch\nTherapeutics for SPR2015, an Investigational Oral KRAS G12D (ON) Inhibitor\n\nMerck (NYSE: MRK), known as MSD outside of the United States and Canada, and\nSciBrunch Therapeutics Co., Ltd. (“SciBrunch”), today announced that they\nhave entered into an exclusive global license agreement for SPR2015, an\ninvestigational preclinical oral KRAS G12D (ON) inhibitor.\n\n“Evidence continues to accumulate for the therapeutic potential of targeting\nthe KRAS pathway, a well-characterized factor in tumor cell growth,” said\nGeorge Addona, senior vice president, discovery, preclinical development and\ntranslational medicine, Merck Research Laboratories. “This agreement\ncomplements and diversifies our expanding pipeline of precision targeted\ncandidates with SPR2015, a potent engineered inhibitor for one of the most\nprevalent mutant forms of KRAS found in human cancers.”\n\nUnder the agreement, SciBrunch has granted Merck exclusive rights to develop,\nmanufacture and commercialize SPR2015 worldwide. SciBrunch will receive an\nupfront payment of $400 million and is eligible to receive payments associated\nwith the achievement of certain milestones related to development,\ncommercialization and other activities across multiple indications. The total\npotential aggregate value of the transaction, including the upfront payment,\nis $2.13 billion. The transaction has closed.\n\n“Since our founding, SciBrunch has remained focused on advancing innovative\ntherapies targeting the RAS pathway and is committed to delivering\ntransformative treatment options for patients with pancreatic, colorectal,\nlung, and other major malignant tumors,” said Tao Hu, founder, chairman and\nchief executive officer of SciBrunch. “This agreement with Merck not only\nvalidates the R&D strength of our platform but also underscores the\npotential of SPR2015 in addressing longstanding unmet medical needs in\noncology. We are excited that Merck, a global leader in oncology, will take\nSPR2015 forward.”\n\nMerck will record a pre-tax charge of $400 million, or approximately $0.13 per\nshare, to be included in GAAP and non-GAAP results in the third quarter of\n2026 related to this transaction.\n\nAbout SPR2015\n\nSPR2015 is a potent and selective novel investigational preclinical molecular\nglue KRAS G12D (ON) inhibitor that has demonstrated nanomolar\nantiproliferative activities in various KRAS G12D-mutant cell lines while\nmaintaining good selectivity over KRAS wildtype cells. KRAS G12D is the most\ncommon oncogenic RAS mutation in human tumors which results from a\nsubstitution of glycine with aspartate at position 12. This change leaves KRAS\nactive and continuously signaling for cell proliferation and survival. In\naddition, SPR2015 has demonstrated compelling antitumor efficacy as a\nmonotherapy across multiple in vivo cell-derived and patient-derived xenograft\n(CDX/PDX) models, as reported in preclinical data presented at the 2026 AACR\nAnnual Meeting.\n\nAbout SciBrunch\n\nSciBrunch Therapeutics Co., Ltd., founded in late 2024, is a clinical-stage\nbiotech driven by iterative innovation in small molecule oncology\ntherapeutics, headquartered in Shanghai. Founded by serial entrepreneur Dr.\nTao Hu together with seasoned medicinal chemist Dr. Yang Zhang, the company\nleverages novel scientific insights to unlock the potential of clinically\nvalidated targets and applies forward-looking, differentiated product design\nstrategies. Guided by its philosophy of “doing the right thing, going deep,\nand pursuing excellence,” SciBrunch aims to build globally competitive\nproducts. For more information, visit www.scibrunch.com.\n\nAbout Merck\n\nAt Merck, known as MSD outside of the United States and Canada, we are unified\naround our purpose: We use the power of leading-edge science to save and\nimprove lives around the world. For more than 130 years, we have brought hope\nto humanity through the development of important medicines and vaccines. We\naspire to be the premier research-intensive biopharmaceutical company in the\nworld – and today, we are at the forefront of research to deliver innovative\nhealth solutions that advance the prevention and treatment of diseases in\npeople and animals. We foster a diverse and inclusive global workforce and\noperate responsibly every day to enable a safe, sustainable and healthy future\nfor all people and communities. For more information, visit www.merck.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.merck.com%2F&esheet=54611764&newsitemid=20260928125137&lan=en-US&anchor=www.merck.com&index=2&md5=12067211f30fba081f8fe97c6e3f0c93)\nand connect with us on X (formerly Twitter)\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftwitter.com%2FMerck&esheet=54611764&newsitemid=20260928125137&lan=en-US&anchor=X+%28formerly+Twitter%29&index=3&md5=36604bb1b233f320dd78a66ac25e7562)\n, Facebook\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.facebook.com%2FMerckInvents%2F&esheet=54611764&newsitemid=20260928125137&lan=en-US&anchor=Facebook&index=4&md5=cb9acad78d3c5a6cbdd13e6b7262107e)\n, Instagram\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.instagram.com%2Fmerck%2F&esheet=54611764&newsitemid=20260928125137&lan=en-US&anchor=Instagram&index=5&md5=69f0272fb5ef182d25510bb11f957302)\n, YouTube\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.youtube.com%2FMerck&esheet=54611764&newsitemid=20260928125137&lan=en-US&anchor=YouTube&index=6&md5=e820203d1c4a4275f64d61c1468d1c5c)\nand LinkedIn\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fmerck&esheet=54611764&newsitemid=20260928125137&lan=en-US&anchor=LinkedIn&index=7&md5=f377bd8687eb38354395f5e15e01b14c)\n.\n\nAdvisors\n\nBofA Securities acted as exclusive financial advisor to SciBrunch in\nconnection with the transaction.\n\nForward-Looking statement of Merck & Co., Inc., Rahway, N.J., USA\n\nThis news release of Merck & Co., Inc., Rahway, N.J., USA (the\n“company”) includes “forward-looking statements” within the meaning of\nthe safe harbor provisions of the U.S. Private Securities Litigation Reform\nAct of 1995. These statements are based upon the current beliefs and\nexpectations of the company’s management and are subject to significant\nrisks and uncertainties. There can be no guarantees with respect to pipeline\ncandidates that the candidates will receive the necessary regulatory approvals\nor that they will prove to be commercially successful. If underlying\nassumptions prove inaccurate or risks or uncertainties materialize, actual\nresults may differ materially from those set forth in the forward-looking\nstatements.\n\nRisks and uncertainties include but are not limited to, general industry\nconditions and competition; general economic factors, including interest rate\nand currency exchange rate fluctuations; the impact of pharmaceutical industry\nregulation and health care legislation in the United States and\ninternationally; global trends toward health care cost containment;\ntechnological advances, new products and patents attained by competitors;\nchallenges inherent in new product development, including obtaining regulatory\napproval; the company’s ability to accurately predict future market\nconditions; manufacturing difficulties or delays; financial instability of\ninternational economies and sovereign risk; dependence on the effectiveness of\nthe company’s patents and other protections for innovative products; and the\nexposure to litigation, including patent litigation, and/or regulatory\nactions.\n\nThe company undertakes no obligation to publicly update any forward-looking\nstatement, whether as a result of new information, future events or otherwise.\nAdditional factors that could cause results to differ materially from those\ndescribed in the forward-looking statements can be found in the company’s\nAnnual Report on Form 10-K for the year ended December 31, 2025 and the\ncompany’s other filings with the Securities and Exchange Commission (SEC)\navailable at the SEC’s Internet site (www.sec.gov\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.sec.gov&esheet=54611764&newsitemid=20260928125137&lan=en-US&anchor=www.sec.gov&index=8&md5=b995f595c4c5daece3dbd4d90ab1af41)\n).\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260928125137/en/\n(https://www.businesswire.com/news/home/20260928125137/en/)\n\nMedia Contacts:\n\nKimberly Petrillo\nkimberly.petrillo@merck.com (mailto:kimberly.petrillo@merck.com)\n\nMichael Levey\nmichael.levey@merck.com (mailto:michael.levey@merck.com)\n\nInvestor Contacts:\n\nPeter Dannenbaum\n(732) 594-1579\n\nSteven Graziano\n(732) 594-1583\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw7Fz6F2a-20260928","title":"Merck Enters into Exclusive Global License Agreement with SciBrunch Therapeutics for SPR2015, an Investigational Oral KRAS G12D (ON) Inhibitor","author":"Business Wire","ticker":"MRK","created":"2026-09-28T10:45:00.156Z","tickers":["MRK"],"exchange":"NYSE","article_body":"Merck Enters into Exclusive Global License Agreement with SciBrunch\nTherapeutics for SPR2015, an Investigational Oral KRAS G12D (ON) Inhibitor\n\nMerck (NYSE: MRK), known as MSD outside of the United States and Canada, and\nSciBrunch Therapeutics Co., Ltd. (“SciBrunch”), today announced that they\nhave entered into an exclusive global license agreement for SPR2015, an\ninvestigational preclinical oral KRAS G12D (ON) inhibitor.\n\n“Evidence continues to accumulate for the therapeutic potential of targeting\nthe KRAS pathway, a well-characterized factor in tumor cell growth,” said\nGeorge Addona, senior vice president, discovery, preclinical development and\ntranslational medicine, Merck Research Laboratories. “This agreement\ncomplements and diversifies our expanding pipeline of precision targeted\ncandidates with SPR2015, a potent engineered inhibitor for one of the most\nprevalent mutant forms of KRAS found in human cancers.”\n\nUnder the agreement, SciBrunch has granted Merck exclusive rights to develop,\nmanufacture and commercialize SPR2015 worldwide. SciBrunch will receive an\nupfront payment of $400 million and is eligible to receive payments associated\nwith the achievement of certain milestones related to development,\ncommercialization and other activities across multiple indications. The total\npotential aggregate value of the transaction, including the upfront payment,\nis $2.13 billion. The transaction has closed.\n\n“Since our founding, SciBrunch has remained focused on advancing innovative\ntherapies targeting the RAS pathway and is committed to delivering\ntransformative treatment options for patients with pancreatic, colorectal,\nlung, and other major malignant tumors,” said Tao Hu, founder, chairman and\nchief executive officer of SciBrunch. “This agreement with Merck not only\nvalidates the R&D strength of our platform but also underscores the\npotential of SPR2015 in addressing longstanding unmet medical needs in\noncology. We are excited that Merck, a global leader in oncology, will take\nSPR2015 forward.”\n\nMerck will record a pre-tax charge of $400 million, or approximately $0.13 per\nshare, to be included in GAAP and non-GAAP results in the third quarter of\n2026 related to this transaction.\n\nAbout SPR2015\n\nSPR2015 is a potent and selective novel investigational preclinical molecular\nglue KRAS G12D (ON) inhibitor that has demonstrated nanomolar\nantiproliferative activities in various KRAS G12D-mutant cell lines while\nmaintaining good selectivity over KRAS wildtype cells. KRAS G12D is the most\ncommon oncogenic RAS mutation in human tumors which results from a\nsubstitution of glycine with aspartate at position 12. This change leaves KRAS\nactive and continuously signaling for cell proliferation and survival. In\naddition, SPR2015 has demonstrated compelling antitumor efficacy as a\nmonotherapy across multiple in vivo cell-derived and patient-derived xenograft\n(CDX/PDX) models, as reported in preclinical data presented at the 2026 AACR\nAnnual Meeting.\n\nAbout SciBrunch\n\nSciBrunch Therapeutics Co., Ltd., founded in late 2024, is a clinical-stage\nbiotech driven by iterative innovation in small molecule oncology\ntherapeutics, headquartered in Shanghai. Founded by serial entrepreneur Dr.\nTao Hu together with seasoned medicinal chemist Dr. Yang Zhang, the company\nleverages novel scientific insights to unlock the potential of clinically\nvalidated targets and applies forward-looking, differentiated product design\nstrategies. Guided by its philosophy of “doing the right thing, going deep,\nand pursuing excellence,” SciBrunch aims to build globally competitive\nproducts. For more information, visit www.scibrunch.com.\n\nAbout Merck\n\nAt Merck, known as MSD outside of the United States and Canada, we are unified\naround our purpose: We use the power of leading-edge science to save and\nimprove lives around the world. For more than 130 years, we have brought hope\nto humanity through the development of important medicines and vaccines. We\naspire to be the premier research-intensive biopharmaceutical company in the\nworld – and today, we are at the forefront of research to deliver innovative\nhealth solutions that advance the prevention and treatment of diseases in\npeople and animals. We foster a diverse and inclusive global workforce and\noperate responsibly every day to enable a safe, sustainable and healthy future\nfor all people and communities. For more information, visit www.merck.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.merck.com%2F&esheet=54611764&newsitemid=20260928125137&lan=en-US&anchor=www.merck.com&index=2&md5=12067211f30fba081f8fe97c6e3f0c93)\nand connect with us on X (formerly Twitter)\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftwitter.com%2FMerck&esheet=54611764&newsitemid=20260928125137&lan=en-US&anchor=X+%28formerly+Twitter%29&index=3&md5=36604bb1b233f320dd78a66ac25e7562)\n, Facebook\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.facebook.com%2FMerckInvents%2F&esheet=54611764&newsitemid=20260928125137&lan=en-US&anchor=Facebook&index=4&md5=cb9acad78d3c5a6cbdd13e6b7262107e)\n, Instagram\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.instagram.com%2Fmerck%2F&esheet=54611764&newsitemid=20260928125137&lan=en-US&anchor=Instagram&index=5&md5=69f0272fb5ef182d25510bb11f957302)\n, YouTube\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.youtube.com%2FMerck&esheet=54611764&newsitemid=20260928125137&lan=en-US&anchor=YouTube&index=6&md5=e820203d1c4a4275f64d61c1468d1c5c)\nand LinkedIn\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fmerck&esheet=54611764&newsitemid=20260928125137&lan=en-US&anchor=LinkedIn&index=7&md5=f377bd8687eb38354395f5e15e01b14c)\n.\n\nAdvisors\n\nBofA Securities acted as exclusive financial advisor to SciBrunch in\nconnection with the transaction.\n\nForward-Looking statement of Merck & Co., Inc., Rahway, N.J., USA\n\nThis news release of Merck & Co., Inc., Rahway, N.J., USA (the\n“company”) includes “forward-looking statements” within the meaning of\nthe safe harbor provisions of the U.S. Private Securities Litigation Reform\nAct of 1995. These statements are based upon the current beliefs and\nexpectations of the company’s management and are subject to significant\nrisks and uncertainties. There can be no guarantees with respect to pipeline\ncandidates that the candidates will receive the necessary regulatory approvals\nor that they will prove to be commercially successful. If underlying\nassumptions prove inaccurate or risks or uncertainties materialize, actual\nresults may differ materially from those set forth in the forward-looking\nstatements.\n\nRisks and uncertainties include but are not limited to, general industry\nconditions and competition; general economic factors, including interest rate\nand currency exchange rate fluctuations; the impact of pharmaceutical industry\nregulation and health care legislation in the United States and\ninternationally; global trends toward health care cost containment;\ntechnological advances, new products and patents attained by competitors;\nchallenges inherent in new product development, including obtaining regulatory\napproval; the company’s ability to accurately predict future market\nconditions; manufacturing difficulties or delays; financial instability of\ninternational economies and sovereign risk; dependence on the effectiveness of\nthe company’s patents and other protections for innovative products; and the\nexposure to litigation, including patent litigation, and/or regulatory\nactions.\n\nThe company undertakes no obligation to publicly update any forward-looking\nstatement, whether as a result of new information, future events or otherwise.\nAdditional factors that could cause results to differ materially from those\ndescribed in the forward-looking statements can be found in the company’s\nAnnual Report on Form 10-K for the year ended December 31, 2025 and the\ncompany’s other filings with the Securities and Exchange Commission (SEC)\navailable at the SEC’s Internet site (www.sec.gov\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.sec.gov&esheet=54611764&newsitemid=20260928125137&lan=en-US&anchor=www.sec.gov&index=8&md5=b995f595c4c5daece3dbd4d90ab1af41)\n).\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260928125137/en/\n(https://www.businesswire.com/news/home/20260928125137/en/)\n\nMedia Contacts:\n\nKimberly Petrillo\nkimberly.petrillo@merck.com (mailto:kimberly.petrillo@merck.com)\n\nMichael Levey\nmichael.levey@merck.com (mailto:michael.levey@merck.com)\n\nInvestor Contacts:\n\nPeter Dannenbaum\n(732) 594-1579\n\nSteven Graziano\n(732) 594-1583\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-09-28T10:45:00.214660118Z","server_sent_at_ms":1790592300214},"received_at":"2026-09-28T10:45:00.381Z","source_url":"https://www.businesswire.com/news/home/20260928125137/en/"},"analysis":{"id":"142626","press_release_id":"153840","analysis_json":{"industry":{"label":"Pharmaceuticals","sector":"Health Care"},"redFlags":["SPR2015 is preclinical -- regulatory and commercial success highly uncertain"],"eventType":"partnership","narrative":"Merck entered an exclusive global license agreement with SciBrunch Therapeutics for SPR2015, an investigational preclinical oral KRAS G12D (ON) inhibitor.\n\nSciBrunch receives a $400 million upfront and is eligible for development and commercialization milestones, with total potential deal value of $2.13 billion. The transaction has closed.\n\nMerck will record a $400 million pre-tax charge, roughly $0.13 per share, in Q3 2026 GAAP and non-GAAP results.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Merck deepens its KRAS franchise with a $2.13B potential license for a preclinical KRAS G12D molecular glue inhibitor."},"keyFigures":{"dealValueUsd":2130000000,"customDimensions":{"upfront_payment":400000000,"charge_per_share":"$0.13","q3_2026_pretax_charge":"$400 million"}},"quotedText":"This agreement complements and diversifies our expanding pipeline of precision targeted candidates with SPR2015, a potent engineered inhibitor for one of the most prevalent mutant forms of KRAS found in human cancers.","namedEntities":{"people":[{"name":"George Addona","role":"SVP, discovery, preclinical development and translational medicine, Merck Research Laboratories"},{"name":"Tao Hu","role":"founder, chairman and CEO of SciBrunch"},{"name":"Yang Zhang","role":"co-founder and medicinal chemist, SciBrunch"}],"products":["SPR2015"],"companies":[{"name":"Merck & Co., Inc.","ticker":"MRK","relationship":"licensee"},{"name":"SciBrunch Therapeutics Co., Ltd.","relationship":"licensor"},{"name":"BofA Securities","relationship":"financial advisor to SciBrunch"}],"dollarAmounts":[{"amount":"$400 million","context":"upfront payment to SciBrunch / Q3 2026 pre-tax charge"},{"amount":"$2.13 billion","context":"total potential aggregate transaction value including milestones"},{"amount":"$0.13 per share","context":"Q3 2026 charge per share"}]},"materialImpact":{"score":3,"reasoning":"Merck licensed a preclinical KRAS G12D inhibitor for a $400M upfront with $2.13B total potential value. 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The transaction has closed.\n\nMerck will record a $400 million pre-tax charge, roughly $0.13 per share, in Q3 2026 GAAP and non-GAAP results.","key_figures":{"dealValueUsd":2130000000,"customDimensions":{"upfront_payment":400000000,"charge_per_share":"$0.13","q3_2026_pretax_charge":"$400 million"}},"named_entities":{"people":[{"name":"George Addona","role":"SVP, discovery, preclinical development and translational medicine, Merck Research Laboratories"},{"name":"Tao Hu","role":"founder, chairman and CEO of SciBrunch"},{"name":"Yang Zhang","role":"co-founder and medicinal chemist, SciBrunch"}],"products":["SPR2015"],"companies":[{"name":"Merck & Co., Inc.","ticker":"MRK","relationship":"licensee"},{"name":"SciBrunch Therapeutics Co., Ltd.","relationship":"licensor"},{"name":"BofA Securities","relationship":"financial advisor to SciBrunch"}],"dollarAmounts":[{"amount":"$400 million","context":"upfront payment to SciBrunch / Q3 2026 pre-tax charge"},{"amount":"$2.13 billion","context":"total potential aggregate transaction value including milestones"},{"amount":"$0.13 per share","context":"Q3 2026 charge per share"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-28T10:45:06.376Z","global_importance":45,"audience_relevance":35,"importance_components":{"assetStage":"preclinical","tickerTier":"mega-cap","eventGravity":"$400M upfront license, $2.13B total potential value","materialityToMerck":"low relative to scale; pipeline addition"}},"durationMs":5934,"modelName":"glm-5.3-flashx"}}