Euroscreen has entered into an exclusive world-wide research collaboration and licensing agreement with Merck & Co to discover and further develop compounds active against an undisclosed target for the potential treatment of unmet medical needs.
Merck will be responsible for the development of all compounds and products under the collaboration.
In exchange, Euroscreen will receive an upfront payment and additional committed undisclosed research funding over the next two to four years.
Euroscreen is also eligible to receive certain pre-specified development milestones, which together with upfront payments could amount to over €100 million and royalties on worldwide sales of any future marketed products that may result from the collaboration.
For further deal information visit Current Agreements (subscription required)
Report: Top 50 Big Biotech Partnering and M&A Deal Trends