Nuevolution announces license agreement with Merck
Nuevolution A/S announced that it has entered an exclusive license agreement with a subsidiary of Merck & Co., Inc., known as MSD outside the United States and Canada, for small molecule compounds targeting an undisclosed intracellular target for use as leads in Merck’s drug discovery and development.
Under terms of the agreement, Merck will gain exclusive rights for the further development and commercialization of the compounds. This is the second agreement between Nuevolution and Merck. Nuevolution will receive an undisclosed upfront payment and milestone payments forcertain preclinical, clinical and agreed upon commercial milestones. In addition, Nuevolution is eligible to receive royalties on the commercial sales of approved products. Further financial details were not disclosed.
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