On May 18, 2026 Merck (NYSE: MRK), known as MSD outside of the United States and Canada, reported the pivotal Phase 3 TroFuse-005 trial evaluating sacituzumab tirumotecan (sac-TMT), an investigational TROP2-directed antibody-drug conjugate (ADC) being developed in collaboration with Kelun-Biotech, met its primary endpoints of overall survival (OS) and progression-free survival (PFS) in certain patients with advanced or recurrent endometrial cancer. TroFuse-005 is the first global Phase 3 trial to demonstrate statistically significant improvement in both OS and PFS compared to chemotherapy for these patients and the first and only ADC to do so for patients with endometrial cancer in this setting.

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At a pre-specified interim analysis, sac-TMT demonstrated a statistically significant and clinically meaningful improvement in OS and PFS compared to treatment of physician’s choice (TPC, consisting of doxorubicin or paclitaxel) for patients with endometrial cancer who have previously received platinum-based chemotherapy and anti-PD-1/L1 immunotherapy either together or separately. The study also reached its key secondary endpoint of objective response rate. These data will be presented at an upcoming medical meeting and discussed with regulatory authorities worldwide.

The safety profile was consistent with what has been observed in previously reported studies of sac-TMT; no new safety signals were observed.

"These results show sac-TMT may be able to address a critical unmet need for certain patients with advanced endometrial cancer, one of the only cancers increasing in both incidence and mortality worldwide," said Dr. Domenica Lorusso, the study’s global lead investigator, lead investigator for ENGOT and professor of Obstetrics and Gynecology at Humanitas University and Humanitas San Pio X, Milan. "Despite recent advances, patients whose disease progresses following treatment with platinum and immunotherapy are urgently in need of new options, and these findings show for the first time that a TROP2 ADC may be an effective option in this setting."

"The scale and ambition of our expansive TroFuse program reflects our deep commitment to advancing one of the industry’s leading ADC pipelines to make a difference for more people facing cancer and builds on our legacy of leadership in gynecologic cancer research," said Dr. Dean Y. Li, president, Merck Research Laboratories. "These findings reinforce our belief that sac-TMT, with its proprietary bifunctional linker designed with the intent to maximize payload delivery to tumors while minimizing impact on healthy cells in the body, has the potential to become a cornerstone in the treatment of certain patients with advanced endometrial cancer. We thank the patients and investigators for participating in our studies as well as our collaborators at Kelun-Biotech for helping us advance this important treatment."

TroFuse-005 also marks the first positive Phase 3 results from Merck’s TroFuse clinical development program for sac-TMT. The program currently consists of 17 ongoing global Phase 3 trials across multiple tumor types, the broadest range of disease and treatment settings compared to any TROP2-directed ADC to date, including 10 Phase 3 trials in women’s cancers. The program is evaluating sac-TMT across a diverse range of tumor types, including endometrial, bladder, breast, cervical, gastric, non-small cell lung and ovarian cancers, and it spans early-to-late-stage disease as both monotherapy and in combination with immunotherapies. This includes the ongoing TroFuse-033 trial in first line mismatch repair proficient endometrial cancer.

About TroFuse-005

TroFuse-005 is a randomized, active-controlled, open-label, multicenter, global Phase 3 trial (ClinicalTrials.gov, NCT06132958) evaluating sac-TMT versus TPC in patients with endometrial carcinoma and carcinosarcoma who have received prior platinum-based chemotherapy and anti-PD-1/anti-PD-L1 immunotherapy either together or separately. The trial enrolled 776 patients who were randomized to receive either sac-TMT or TPC, consisting of doxorubicin or paclitaxel. Sac-TMT (4 mg/kg) was administered on Day 1 of each two-week treatment cycle. Doxorubicin (60 mg/m²) was administered on Day 1 of each three-week treatment cycle and paclitaxel (80 mg/m²) was administered on Days 1, 8 and 15 of each four-week treatment cycle.

The study has dual primary endpoints: PFS by blinded independent central review (BICR), defined as the time from randomization to the first documented disease progression or death from any cause, and OS, defined as the time from randomization to death from any cause. A key secondary endpoint is objective response rate, and other secondary endpoints include duration of response, incidence of adverse events, treatment discontinuation due to adverse events and change from baseline in global health status/quality-of-life scores.

About sacituzumab tirumotecan (sac-TMT)

Sac-TMT is an investigational TROP2-directed ADC with a belotecan-derived topoisomerase I inhibitor payload and a bifunctional linker designed with the potential to maximize payload delivery to tumor cells and minimize payload loss while circulating in the body. Sac-TMT is the only TROP2 ADC designed with a focus on both ends of the linker.

TROP2 is overexpressed on tumor cells compared to healthy cells in many common cancers, and through the TroFuse clinical development program, Merck is evaluating sac-TMT in 17 ongoing global Phase 3 trials across multiple tumor types, the broadest range of disease and treatment settings compared to any TROP2-directed ADC to date. The TroFuse development program spans early‑to-late‑stage disease in more than nine disease areas and includes more than 15,000 patients worldwide. Numerous Phase 3 trials are exploring sac-TMT as monotherapy and in combination with immunotherapies, aiming to improve survival and quality of life for patients with advanced and earlier-stage cancers.

About endometrial cancer

Endometrial cancer (also referred to as endometrial carcinoma) begins in the inner lining of the uterus, which is known as the endometrium, and is the most common type of cancer in the uterus. More than 90% of uterine body cancers occur in the endometrium. In the U.S., it is estimated there will be approximately 68,270 patients diagnosed with endometrial cancer and approximately 14,450 patient deaths from the disease in 2026. Globally, endometrial cancer is the sixth most common cancer in women and the 15th most common cancer overall. Following primary treatment, patients face a risk of their cancer returning, often as distant metastasis, which is associated with poorer outcomes.

(Press release, Merck & Co, MAY 18, 2026, View Source [SID1234665826])

On May 18, 2026 Ligand reported that as previously disclosed, on April 27, 2026, Ligand Pharmaceuticals Incorporated, a Delaware corporation ("Ligand"), entered into an Agreement and Plan of Merger (the "Merger Agreement"), by and among Ligand, XOMA Royalty Corporation, a Nevada corporation ("XOMA Royalty"), and Flex Merger Sub, Inc., a Nevada corporation and wholly-owned subsidiary of Ligand ("Merger Sub"), pursuant to which, and upon the terms and subject to the conditions thereof, including, without limitation, effecting the Holding Company Reorganization (as defined below), Merger Sub will merge with and into a newly formed Nevada corporation, XOMA Royalty Holdings Corporation ("HoldCo"), (the "Merger"), with HoldCo surviving the Merger as a wholly owned subsidiary of Ligand. HoldCo is a wholly-owned subsidiary of XOMA Royalty and was formed for the sole purpose of effecting a holding company reorganization (the "Holding Company Reorganization") pursuant to Nevada Revised Statutes, as amended ("NRS"), 92A (or such other applicable provisions of the NRS).

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On May 16, 2026, XOMA Royalty, Ligand and the Merger Sub entered into Amendment No. 1 to the Agreement and Plan of Merger ("Amendment No. 1") which, among other things, adds HoldCo as a party to the Merger Agreement.

The foregoing description of Amendment No. 1 does not purport to be complete and is qualified in its entirety by reference to Amendment No. 1, a copy of which is attached hereto as Exhibit 2.1 and is incorporated herein by reference.

(Filing, Ligand, MAY 18, 2026, View Source [SID1234665825])

On May 18, 2026 ImmunityBio, Inc. (NASDAQ: IBRX), a vertically integrated commercial-stage immunotherapy company, reported that five United States patents have been issued to ImmunityBio covering the combination of its IL-15 receptor agonist ANKTIVA (nogapendekin alfa inbakicept-pmln) with Bacillus Calmette-Guérin (BCG) for the treatment of cancer.

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The five patents (U.S. Patent Nos. 11,173,191; 11,679,144; 11,890,323; 12,268,731; and 12,318,432) with terms extending through at least 2035 include compositions of combinations of ANKTIVA and BCG. Together they protect the approved ANKTIVA plus BCG product, the specific intravesical dosing regimen, the two-vial commercial kit, and methods of treating non-muscle invasive bladder cancer (NMIBC) including BCG-naïve disease and bladder cancer.

The issued patent portfolio establishes composition-of-matter and method-of-use protection for ImmunityBio’s IL-15 receptor agonist and BCG combination platform through the next decade and beyond. This intellectual property position supports the Company’s commercial ANKTIVA plus BCG franchise in BCG-unresponsive NMIBC and bladder cancer, its pending supplemental BLA for BCG-unresponsive papillary-only disease, and the advancing QUILT-2.005 registrational trial evaluating ANKTIVA plus BCG versus BCG alone in BCG-naïve NMIBC carcinoma in situ.

The patent portfolio also intersects with ImmunityBio’s recently announced exclusive U.S. Development and Supply Agreement with Japan BCG Laboratory for the Tokyo strain of BCG (Tokyo-172), which is supported by the positive Phase III SWOG S1602 results demonstrating non-inferiority of Tokyo-172 BCG versus TICE BCG on high-grade recurrence-free survival (HR 0.82; 95.8% CI 0.63–1.08) in 984 randomized patients with BCG-naïve high-grade NMIBC. As ImmunityBio engages with the FDA to pursue U.S. approval of Tokyo-172 BCG, the issued patent estate protects the combination of any approved BCG strain with the Company’s IL-15 receptor agonist platform.

"Over the past decade, we have built an integrated immunotherapy platform grounded in the science of IL-15 and its capacity to activate NK cells, CD8+ T cells, and memory T cells without expanding suppressive regulatory T cells. These five issued patents protect that science at every layer that matters commercially: the compositions of matter, the method of treatment, the wild-type and mutant IL-15 plus BCG compositions, the intravesical dosing regimen, and the two-vial kit physicians administer. The IL-15 and BCG combination is the backbone of our bladder cancer franchise, and this patent estate protects it through at least 2035. In a similar vein, ImmunityBio has received issued patents covering the combination of ANKTIVA with checkpoint inhibitors," said Patrick Soon-Shiong, M.D., Founder, Executive Chairman and Global Chief Medical and Scientific Officer of ImmunityBio.

"This patent portfolio provides long-term protection for a cornerstone of ImmunityBio’s commercial franchise at a time when we are expanding the clinical utility of ANKTIVA plus BCG across multiple NMIBC settings, securing a second BCG supply source for the U.S. market, and generating 700% year-over-year revenue growth. The combination of durable patent protection, validated clinical data, and supply chain diversification positions ANKTIVA plus BCG as the standard of care in this disease for years to come," said Richard Adcock, President and Chief Executive Officer of ImmunityBio.

U.S. Patent No. 11,173,191 (issued November 16, 2021) covers the core method of treating cancer by administering BCG together with the IL-15N72D:IL-15RαSu/Fc complex (ALT-803/ANKTIVA), with dependent claims specific to bladder cancer, NMIBC, BCG-naïve NMIBC, and intravesical administration. This is the foundational method-of-treatment claim that reads directly on the FDA-approved use of ANKTIVA plus BCG.
U.S. Patent No. 11,679,144 (issued June 20, 2023) covers the pharmaceutical composition combining BCG with a wild-type IL-15:IL-15RαSu complex, including the two-vial kit format (one vial BCG, one vial IL-15:IL-15RαSu, plus directions for use in treating cancer including bladder cancer). This broadens composition and product-form protection beyond the IL-15N72D mutant to wild-type IL-15 combinations.
U.S. Patent No. 11,890,323 (issued February 6, 2024) covers the method of treating NMIBC, including BCG-naïve NMIBC, by intravesical instillation of BCG plus a wild-type IL-15:IL-15RαSu complex. This patent pairs with 11,173,191 to cover both the IL-15 mutant and wild-type forms of the combination, closing a potential design-around route.
U.S. Patent No. 12,268,731 (issued April 8, 2025) covers the defined-dose composition itself: a single intravesical dose, matching the ANKTIVA plus BCG dosing regimen used in the FDA-approved label and in the QUILT-3.032 and QUILT-2.005 trials. Claims also cover the corresponding two-vial bladder cancer treatment kit.
U.S. Patent No. 12,318,432 (issued June 3, 2025) covers the commercial two-vial kit itself: a first vial of BCG and a second vial of ANKTIVA (dimeric IL-15RαSu/Fc plus two IL-15N72D molecules) with instructions for treating neoplasia. This patent protects the as-supplied product configuration that physicians receive and administer.
About ANKTIVA (nogapendekin alfa inbakicept-pmln)

The cytokine interleukin-15 (IL-15) plays a crucial role in the immune system by affecting the development, maintenance, and function of key immune cells—NK and CD8+ killer T cells—that are involved in killing cancer cells. By activating NK cells, ANKTIVA overcomes the tumor escape phase of clones resistant to T cells and restores memory T cell activity with resultant prolonged duration of complete response. ANKTIVA is a first-in-class IL-15 agonist IgG1 fusion complex, consisting of an IL-15 mutant (IL-15N72D) fused with an IL-15 receptor alpha, which binds with high affinity to IL-15 receptors on NK, CD4+, and CD8+ T cells. This fusion complex of ANKTIVA mimics the natural biological properties of the membrane-bound IL-15 receptor alpha, delivering IL-15 by dendritic cells and driving the activation and proliferation of NK cells with the generation of memory killer T cells that have retained immune memory against these tumor clones.

Important Safety Information

U.S. IMPORTANT SAFETY INFORMATION

INDICATION AND USAGE: ANKTIVA is an interleukin-15 (IL-15) receptor agonist indicated with Bacillus Calmette-Guérin (BCG) for the treatment of adult patients with BCG-unresponsive non-muscle invasive bladder cancer (NMIBC) with carcinoma in situ (CIS) with or without papillary tumors.

WARNINGS AND PRECAUTIONS: Risk of Metastatic Bladder Cancer with Delayed Cystectomy. Delaying cystectomy can lead to the development of muscle-invasive or metastatic bladder cancer, which can be lethal. If patients with CIS do not have a complete response to treatment after a second induction course of ANKTIVA with BCG, reconsider cystectomy.

DOSAGE AND ADMINISTRATION: For Intravesical Use Only. Do not administer by subcutaneous or intravenous routes. Please see the complete Indication and Important Safety Information and Prescribing Information for ANKTIVA at Anktiva.com.

Investigational Use Notice: The Tokyo strain of BCG (manufactured by Japan BCG Laboratory) and recombinant BCG or rBCG (manufactured by Serum Institute of India under ongoing partnership with ImmunityBio) are investigational in the United States and have not been approved by the FDA. The safety and effectiveness of these investigational products have not been established. Availability of rBCG is limited to ImmunityBio’s FDA Expanded Access Program for eligible patients. To enroll in the Expanded Access Program for recombinant BCG, please visit View Source

(Press release, ImmunityBio, MAY 18, 2026, View Source [SID1234665824])

On May 18, 2026 Eli Lilly and Company (NYSE: LLY) reported it will participate in Bernstein’s 42nd Annual Strategic Decisions Conference on May 28, 2026. Daniel M. Skovronsky, M.D., Ph.D., chief scientific and product officer, and president of Lilly Research Laboratories, will take part in a fireside chat at 1:30 p.m., Eastern time.

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A live audio webcast will be available on the "Webcasts & Presentations" section of Lilly’s investor website at View Source A replay of the presentation will be available on this same website for approximately 90 days.

(Press release, Eli Lilly, MAY 18, 2026, View Source [SID1234665823])

On May 18, 2026 Cytovation ASA, a clinical-stage biotechnology company developing therapies targeting β-catenin-driven cancers, reported a clinical supply agreement for tislelizumab (TEVIMBRA) with BeOne Medicines as part of the initiation of a clinical trial to evaluate getacatetide (CY-101) in combination with tislelizumab in patients with metastatic colorectal cancer (CRC).

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The Phase 2 study will investigate the potential of getacatetide to overcome β-catenin-driven immune exclusion, activate cytotoxic T cells and enhance response to checkpoint inhibition in patients with advanced CRC, with a particular focus on those with liver metastases. CRC is the third most common cancer worldwide, with almost two million new cases diagnosed every year. The liver is the most common site of CRC metastasis, and progression of hepatic metastases is a major contributor to mortality. CRC with liver metastases is largely refractory to checkpoint inhibition in the microsatellite-stable (MSS) setting, and β-catenin–driven immune exclusion is a key mechanism of resistance.

Getacatetide is designed to degrade β-catenin while enhancing antigen exposure within the tumor microenvironment. When administered directly into liver lesions, getacatetide has previously demonstrated the potential to overcome the immunosuppressive liver microenvironment and to initiate a cytotoxic T cell anti-tumor response, providing a mechanistic basis for combination with PD-1 blockade.

The trial builds on emerging clinical and translational data supporting systemic immune activation following administration of getacatetide, with abscopal activity across metastatic sites and organs.

"Checkpoint inhibitors have transformed the treatment landscape in many cancers. Unfortunately, the vast majority of colorectal cancer patients with liver metastases remain without an effective immunotherapy option. The liver is a critical immunological bottleneck – a site where anti-tumor immunity is actively suppressed, blunting the benefit of checkpoint blockade," said Lars Prestegarden, Co-founder and CEO of Cytovation. "This supply agreement allows us to directly assess getacatetide’s ability to address this challenge, harness the full potential of PD-1 inhibition and potentially deliver a powerful dual therapeutic combination in this large and underserved patient population."

About getacatetide (CY-101)

Getacatetide is a first-in-class bifunctional peptide designed to degrade β-catenin while enhancing antigen exposure and inducing immunogenic cell death within the tumor microenvironment. Getacatetide activates cytotoxic T cells against tumors that are resistant to checkpoint inhibition and has demonstrated clinical activity in patients with advanced solid tumors and visceral metastases.

(Press release, Cytovation, MAY 18, 2026, View Source;utm_medium=rss&utm_campaign=cytovation-to-advance-development-of-cy-101-for-cancers-driven-by-dysfunction-of-wnt-%25ce%25b2-catenin-signalling-under-international-nonproprietary-name-of-getacatetide-2 [SID1234665822])