Nuevolution A/S has announced that it has entered an exclusive license agreement with a subsidiary of Merck & Co., Inc.
The agreement involves 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. Furthermore, Nuevolution will receive an undisclosed upfront payment and milestone payments for certain preclinical, clinical and agreed upon commercial milestones. Also, Nuevolution is eligible to receive royalties on the commercial sales of approved products. Further financial details have not been disclosed.
“This agreement is the first pre-clinical compound out-licensing agreement for Nuevolution. It marks the immediate realization of our chosen strategy to both offer access to our technology as well as out-license leads identified by the use of the Chemetics® platform. We are very pleased to see that the compounds will be developed further by Merck,” said Alex Gouliaev, CEO of Nuevolution A/S in a press release.
Source: B3C Newswire