Under the terms of the agreement, Merck Serono will make an upfront payment of E2 million to Flamel for investigating the therapeutic protein and Merck Serono will fund R&D efforts to be performed at Flamel. Financial terms of a license agreement up through potential commercialization of this formulation have been agreed between the parties.
Bernhard Kirschbaum, head of research at Merck Serono, said: “We are delighted to enter into this partnership with Flamel, as it gives Merck Serono access to a technology that may further improve the therapeutic potential of compounds in our portfolio.”