11.16.06
Advinus Therapeutics, Ltd. and Merck have formed a drug discovery and clinical development collaboration in the area of metabolic disorders. The two companies will work together to develop clinically validated drug candidates for metabolic disorders, with Merck retaining the right to advance the most promising of these candidates into late-stage clinical trials.
Advinus will receive an upfront payment and could potentially receive milestone payments of as much as $74.5 million for each target included in the collaboration. Advinus is also eligible for royalties on the sales of any products that result from the collaboration. The collaboration will begin with two target programs, and could expand to include others.
"This collaboration provides an avenue for Advinus to gain access to cutting-edge technologies from Merck while leveraging its India-based discovery and development capabilities," said Dr. Rashmi Barbhaiya, chief executive officer and managing director of Advinus. "Importantly, this agreement also reflects India's emerging role in bringing innovative and life-saving drugs to market with speed and cost-effectiveness."
Merv Turner, Ph.D., senior vice president, worldwide licensing and external research at Merck, said, "Merck is looking forward to establishing its first research-based collaboration in India with Advinus. This agreement furthers our strategy of building global alliances and our commitment to discovering and developing innovative medicines for metabolic disorders, a growing public health issue."
Advinus will receive an upfront payment and could potentially receive milestone payments of as much as $74.5 million for each target included in the collaboration. Advinus is also eligible for royalties on the sales of any products that result from the collaboration. The collaboration will begin with two target programs, and could expand to include others.
"This collaboration provides an avenue for Advinus to gain access to cutting-edge technologies from Merck while leveraging its India-based discovery and development capabilities," said Dr. Rashmi Barbhaiya, chief executive officer and managing director of Advinus. "Importantly, this agreement also reflects India's emerging role in bringing innovative and life-saving drugs to market with speed and cost-effectiveness."
Merv Turner, Ph.D., senior vice president, worldwide licensing and external research at Merck, said, "Merck is looking forward to establishing its first research-based collaboration in India with Advinus. This agreement furthers our strategy of building global alliances and our commitment to discovering and developing innovative medicines for metabolic disorders, a growing public health issue."