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news.ElexoPharm has entered into a collaboration and exclusive worldwide license agreement with Merck & Co through an affiliate to develop and commercialise novel candidates targeting aldosterone synthase for the potential treatment of cardiovascular disease.
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As per the terms of the agreement, Merck is expected to pay ElexoPharm an upfront payment of EUR1.5m. In addition ElexoPharm will be eligible to receive up to an additional €32.3 million if specific development, regulatory and commercial milestones are achieved for a candidate and royalties on net sales of any products resulting from the collaboration.
Additionally, Merck will be responsible for development, regulatory filings, manufacturing and commercialisation activities.
Axel Koch, managing director of ElexoPharm, said: “This agreement marks a major milestone in ElexoPharm’s relatively recent company history. We are delighted to have a partner such as Merck.”
Andrew Plump, vice president for cardiovascular disease discovery research of research laboratories at Merck, said: “This agreement with ElexoPharm underscores Merck’s ongoing commitment to developing breakthrough cardiovascular medicines.”