rchemix and Merck KGaA to Collaborate on Aptamer-Based Cancer Therapeutics
Wednesday January 17, 12:00 pm ET
CAMBRIDGE, Mass., Jan. 17 /PRNewswire/ -- Archemix Corp. announced today that it has signed a multi-year, multi-target agreement with Merck KGaA of Darmstadt, Germany, that focuses on the discovery, development, and commercialization of first-in-class aptamer-based therapeutics to treat cancer.
Under terms of the agreement, Archemix will receive an upfront payment and committed research funding of as much as $10 million. Archemix also could receive milestones and royalty payments for products successfully commercialized under the collaboration. In addition, Archemix may participate in the co-promotion of products that result from the collaboration. Other financial terms were not disclosed.
Dr. Errol De Souza, President and Chief Executive Officer of Archemix, commented: "Merck is a recognized global leader in oncology drug development and marketing, and we are excited to be working with them to apply our scientific expertise in developing novel aptamer therapeutics for cancer. This alliance is the fourth major partnership we have formed over the past six months and is consistent with our strategy to enable partners to leverage aptamers as drugs on a target-by-target basis."
"Archemix is the leader in the field of aptamers, a new class of drugs that has tremendous potential in the battle against cancer," said Dr. Bernhard Kirschbaum, Executive Senior Vice President and Director of Research for Merck Serono. "We hope this collaboration will further our efforts to provide physicians and oncology patients with innovative, targeted cancer treatments." |
