Threshold receives $20m milestone payment from Merck

Statistically significant progression free survival benefit was achieved in 214-patient randomized controlled Phase II trial.

The 404 trial evaluated the efficacy and safety of two doses of TH-302, a hypoxia-targeted drug, in combination with gemcitabine compared to gemcitabine alone in patients with first-line advanced pancreatic cancer.

Threshold CEO Barry Selick said the achievement of the milestone validates the encouraging results seen in 404 trial.

"We look forward to working in collaboration with Merck to rapidly determine next steps and move forward in this disease where few advances have been made," Selick added.