[September 05, 2011] Addex Pharmaceuticals and Merck terminate agreement to develop drugs for Parkinson's disease Tweet Sep 05, 2011 (Datamonitor Financial Deals Tracker via COMTEX) -- Addex Pharmaceuticals SA, a Switzerland-based biopharmaceutical company, has announced that it will regain all rights to its metabotropic glutamate receptor 4 (mGluR4) positive allosteric modulator (PAM) program from Merck & Co., Inc., a US-based pharmaceutical company, due to further pipeline prioritization. Under the agreement, Addex will regain rights to intellectual property and know-how and can pursue the program independently. Update on December 2, 2009: Addex has extended its research agreement with Merck for an additional year. The agreement is focused on developing positive allosteric modulators (PAM) of the metabotropic glutamate receptor 4 (mGluR4) for the treatment of Parkinson's disease and other undisclosed indications. Under the terms of the agreement, Addex will receive $1.8 million in research funding over 12 months beginning on December 1, 2009 from Merck in addition to the original financial terms, which include milestones and royalties. Update on July 10, 2009: Addex Pharmaceuticals has achieved a second preclinical milestone in its exclusive license agreement with Merck. The agreement is focused on the development of an emerging type of drugs, called allosteric modulators, for treatment of Parkinson's disease and other undisclosed indications. Under the terms of the agreement, Addex will receive a $0.5 million for achieving the second preclinical milestone. Update on February 25, 2008: Addex Pharmaceuticals has achieved a first preclinical milestone in its exclusive license agreement with Merck. The collaboration is focused on developing an emerging class of oral drugs, allosteric modulators, that target the metabotropic glutamate receptor 4 (mGluR4) for Parkinson's disease and other undisclosed indications. Under the terms of the agreement, Addex will receive a $0.25 million for achieving the first preclinical milestone. Announcement (December 3, 2007): Addex Pharmaceuticals has signed an exclusive license agreement with Merck (through its affiliate Merck Sharp & Dohme Research) to develop a new class of orally available drugs, initially as candidates for the treatment of Parkinson's disease and potentially other undisclosed indications. Under the terms of the agreement, Addex will receive $3 million upfront payments and eligible for up to $106.5 million in research, development and regulatory milestones for the first product developed for multiple indications. Additional milestones of up to $61 million will be payable if a second and third product is developed. Addex is eligible to receive undisclosed royalties on sales of any products resulting from this collaboration. Deal Value (US$ Million) 170.5 Deal Type Partnership Sub-Category Development,Research and discovery,Acquisition of Rights,Sales,Licensing Agreement Deal Status Terminated: 2011-09-02 Deal Participants Partner 1 (Company) Addex Pharmaceuticals SA Partner 2 (Company) Merck Sharp & Dohme Corp. (formerly Merck & Co., Inc.) Partner 3 (Company) Merck Sharp & Dohme Research, Ltd. [ Back To TMCnet.com's Homepage ]