Issue Date: January 7, 2008
Merck Signs Second Deal With Addex
Merck & Co. has signed a second drug development deal with the Swiss biotech firm Addex Pharmaceuticals. Under an exclusive license agreement, the two firms will develop Addex ADX63365, an orally available allosteric modulator now in preclinical development for the treatment of schizophrenia. Addex will get $22 million upfront and is eligible for up to $455 million in milestone payments. Last month the two launched an allosteric modulator collaboration focused initially on Parkinson's disease.
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