News
7 Sep 2011
Addex Regains Parkinson's Programme Rights from Merck
Merck originally licensed the rights to the programme in 2007 in a deal potentially worth as much as $170.5m.
Swiss biopharmaceutical company Addex Pharmaceuticals announced that US-headquartered pharmaceutical firm Merck is to return the rights to a Parkinson's disease programme to Addex.
Merck originally licensed the rights to the programme, responsible for developing orally-active metabotropic glutamate receptor 4 positive allosteric modulators, in 2007 in a deal potentially worth as much as $170.5m.
The deal comprised of $3m in upfront payments, as well as milestone payments worth $106.5m for the lead compound and $for 61m follow-up compounds.
The blow comes just months after Addex were forced to replace their chief executive.
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