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Biotech / Medical : GLGC Gene Logic

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To: Mike McFarland who wrote (335)	8/23/2007 2:30:48 PM
From: Mike McFarland	Read Replies (2) of 360

'repositioning and development agreement with Merck Serono, a division of Merck KGaA of Germany' phx.corporate-ir.net; Gene Logic Inc. announced today that it has entered into a drug repositioning and development agreement with Merck Serono, a division of Merck KGaA of Germany, to seek alternative development paths for several Merck Serono drug candidates. All of these drug candidates were discontinued or de-prioritized in clinical trials for reasons other than safety. The agreement provides for payment to Gene Logic of success based milestones and royalties similar to those paid for development-stage in-licensing deals, discounted to account for Merck Serono's contribution as the originator of the compound. The agreement also provides Gene Logic the option to receive an exclusive license to any drug candidate for which Gene Logic identifies a new potential therapeutic use that Merck Serono chooses not to develop. If Gene Logic elects to obtain such a license, Merck Serono would be entitled to receive success-based milestone and royalty payments.

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