Rahway, New Jersey — November 4, 2025 — Leads & Copy — Merck (NYSE: MRK) has entered into an agreement with funds managed by Blackstone Life Sciences to support the development of sacituzumab tirumotecan (sac-TMT), an investigational antibody-drug conjugate (ADC) targeting TROP2.
Blackstone will provide $700 million to fund development costs through 2026 and is eligible to receive royalties on net sales of sac-TMT upon regulatory approval in the U.S. for first-line treatment of triple-negative breast cancer.
Merck retains decision-making authority over sac-TMT’s development, manufacturing, and commercialization. Sac-TMT is currently being evaluated in 15 global Phase 3 clinical trials across six tumor types.
Caroline Litchfield, chief financial officer, Merck.
Dr. Nicholas Galakatos, global head, Blackstone Life Sciences.
Source: Merck
