Addex Extends Parkinson’s Disease Collaboration With Merck & Co

Addex Pharmaceuticals has extended its research collaboration with Merck & Co, through an affiliate, for an additional year. The collaboration is focused on developing positive allosteric modulators (PAM) of the metabotropic glutamate receptor 4 (mGluR4) for the treatment of parkinson’s disease and other undisclosed indications.

Addex will receive research funding from Merck in addition to the original financial terms, which include milestones and royalties.

Earlier this year, Addex disclosed that the collaboration had yielded orally available mGluR4 PAM with efficacy in an animal model of parkinson’s disease.

Under the terms of the exclusive collaboration and license agreement, first announced in December 2007, Addex received $3m upfront and has received two preclinical milestones of $250,000 and $500,000, to date. Addex is eligible to receive up to $106.5m in research, development and regulatory milestones for the first product developed for multiple indications.

Additional milestones of up to $61m would be payable if a second and third product is developed. Addex is eligible to receive undisclosed royalties on sales of any products resulting from this collaboration. Merck is responsible for clinical development. Extension of the research collaboration allows Addex to recognise $1.8m in research funding over 12 months beginning on December 1, 2009.