Threshold Pharmaceuticals, Inc. (NASDAQ: THLD) is a clinical stage biopharmaceutical company focused on the discovery and development of cancer therapeutics based on a novel and powerful approach of targeting tumor hypoxia.
THLD today announced that Threshold’s partner Merck KGaA, Darmstadt, Germany, through its division Merck Serono, initiated the global Phase 3 MAESTRO study assessing the efficacy and safety of investigational hypoxia-targeted drug TH-302 in combination with gemcitabine in patients with previously untreated, locally advanced unresectable or metastatic pancreatic adenocarcinoma.
The initiation of the Phase 3 MAESTRO study resulted in Threshold earning a $30 million milestone payment from Merck KGaA pursuant to the terms of Threshold’s license and co-development agreement with Merck KGaA, which includes an option for Threshold to co-commercialize in the U.S. MAESTRO stands for TH-302 in the treatment of MetastAtic or unrESectable pancreaTic adenocaRcinOma.
Barry Selick, Ph.D., Chief Executive Officer of Threshold, commented:
Initiation of the Phase 3 MAESTRO study is an important advancement in the overall development of TH-302 for the treatment of patients living with cancer. This marks the second Phase 3 study of TH-302 in addition to the ongoing Phase 3 pivotal trial in patients with soft tissue sarcoma. In addition, we continue to explore the potential breadth and activity of TH-302 against a variety of solid tumors and hematological malignancies in multiple ongoing earlier stage clinical trials.