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MarketWatch
Market Pulse: Geron and Merck to develop cancer vaccine
Monday July 18, 7:42 am ET
By Leslie Wines
NEW YORK (MarketWatch) - Geron Corp. Monday said it entered an agreement with Merck & Co. to develop a cancer vaccine targeting the enzyme telomerase. Geron will receive an upfront payment of unspecified amount, milestone payments upon achievement of certain development and regulatory events, and royalties. The arrangement also calls for Merck to acquire equity in Geron at a future date. Telomerase is an enzyme, active in most cancer cells, that maintains telomere length at the ends of chromosomes. In pre-market trade, shares of Geron rose 9.3%, gaining 80 cents to $9.40.