The companies have been working together since November 2006 to develop clinically validated drug candidates in metabolic diseases, with Merck retaining the right to advance the most promising of these candidates into late-stage clinical trials.
Under the terms of the agreement, Advinus will receive milestone payments upon meeting agreed upon criteria at various stages of discovery and development. Advinus could potentially receive $ 74.5 million per target and is also eligible for royalties on the sales of any products that result from the collaboration, said the press release.
"Together, we have met or surpassed all the expectations that were set out between the partners at the onset of the collaboration,