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news.Acumen Pharmaceuticals has said that it has gained a $5 million milestone payment as a result of its collaboration with Merck & Co. on their antibody program. The milestone was triggered by certain development activities.
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“Collaborations with biotech companies continue to be a vital part of Merck’s strategy. We think the Acumen collaboration is an excellent example of how well biotech-pharmaceutical collaborations can work,” said Ken Koblan, vice president, Neuroscience Research at Merck Research Laboratories.
The two companies signed a license agreement in 2003 to research and develop disease-modifying therapeutic drugs for Alzheimer’s disease and other memory-related disorders.
Under the terms of the original agreement, Merck obtained an exclusive license to research and develop antibody products, an option to develop vaccine products and certain diagnostic rights. In November, Merck amended the collaboration agreement to include an exclusive license grant to Merck for the diagnostic related rights.