Elexopharm Enters Into Cardiovascular Collaboration With Merck & Co., Inc

18-May-2010 - Germany

ElexoPharm GmbH announced a collaboration and exclusive worldwide license agreement with Merck & Co., Inc. through an affiliate to develop and commercialize novel candidates targeting aldosterone synthase for the potential treatment of cardiovascular disease.

Under the terms of the agreement, Merck will pay ElexoPharm an upfront payment of €1.5 million. In addition ElexoPharm is eligible to receive up to an additional €32.3 million if specific development, regulatory and commercial milestones are achieved for a candidate and royalties on net sales of any products resulting from the collaboration. Merck is responsible for development, regulatory filings, manufacturing and commercialization activities.

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