Shots:

• Dragonfly to receive ~ $47.5M up front- equity investment- development & commercial milestones along with royalties on sales of approved therapies
• Merck to get an option to license exclusive IP rights for multiple candidates developed using Dragonfly's TriNKET technology platform for new targets in oncology- infectious disease- and immune disorders
• Dragonfly's TriNKET technology act by harnessing the body's innate immune system to bring breakthrough cancer therapies to the patients

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Ref: PRNewswire | Image: Merck