Under the terms of the agreement, Diakron has the exclusive rights to develop, and, if approved, market and distribute the compound worldwide.
In a simultaneous transaction, Orchid Chemicals & Pharmaceuticals has signed an agreement to partner with Diakron as a significant shareholder and developer for the anticoagulant drug candidate. Orchid will be undertaking the next stages of development.
Srirama Rao, a founder and the chairman of Diakron, said: “We are extremely pleased to be able to license this compound from Merck for further development and commercialization. We are also pleased that Orchid is partnering with us as a significant shareholder and developer of this compound, leveraging its world-class R&D infrastructure in India. This will allow Diakron to fast-track development of this unique anticoagulant product as its number one priority.”