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news.Merz Pharmaceuticals and Tel Aviv University have agreed to collaborate on the development of a drug for the treatment of Alzheimer's.
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The worldwide exclusive license deal includes an upfront fee and milestone payments as well as royalties on future sales.
A novel drug technology to treat Alzheimer’s disease developed by Professor Ehud Gazit and his team of researchers at Tel Aviv University (TAU), Israel, was licensed to Merz Pharmaceuticals by Ramot at Tel Aviv University Ltd, the university’s technology transfer company.
The technology developed at TAU was one of a portfolio of technologies that were selected to be funded by an $8.5 million investment raised by Ramot in 2003 from a group of US investors.
“We believe that our cooperation with Merz Pharmaceuticals will lead to the development of long sought-after effective treatment for some of the most devastating illnesses known to date,” commented Professor Zvi Galil, president of Tel Aviv University.