ElexoPharm, Merck partner to develop CVD treatment
ElexoPharm GmbH, a biotechnology company, has partnered with Merck to develop and market novel aldosterone synthase agents to better treat cardiovascular disease.
Under the terms of agreement, Whitehouse Station, N.J.-based Merck will pay ElexoPharm upfront payments of €1.5 million ($1.9 million U.S.).
In addition, Saarbruecken, Germany-based ElexoPharm will be eligible to receive additional royalties of up to €32.3 million ($41 million U.S.) if development and regulatory milestones are achieved for the product.
According to ElexoPharm, Merck will be undertaking all development, regulatory and manufacturing actions during the collaboration.
Under the terms of agreement, Whitehouse Station, N.J.-based Merck will pay ElexoPharm upfront payments of €1.5 million ($1.9 million U.S.).
In addition, Saarbruecken, Germany-based ElexoPharm will be eligible to receive additional royalties of up to €32.3 million ($41 million U.S.) if development and regulatory milestones are achieved for the product.
According to ElexoPharm, Merck will be undertaking all development, regulatory and manufacturing actions during the collaboration.