Xenon Exclusively Licenses Merck Compounds
Xenon recently announced that Merck, through an affiliate, has exercised its option to exclusively license small molecule compounds for a novel target for the potential treatment of cardiovascular disease. In 2009, Xenon and Merck entered into a strategic
alliance in which Xenon employed its human clinical genetics platform to validate novel cardiovascular targets and collaborated on the discovery and development of small molecule compounds for those targets.
“We are very pleased that Merck has exercised this option to license novel discoveries from the collaboration,” said Simon Pimstone, President and CEO of Xenon. “The discovery of loss-of-function mutations for this target in humans with protective cardiovascular profiles was central for the development of compound modulators of the target.”
Under the terms of the 2009 agreement, Xenon received milestone payments and an option fee and is eligible for further research, development, and regulatory milestone payments of up to $86.5 million. In addition, Merck will pay Xenon undisclosed royalties on sales of products resulting from the collaboration.
Xenon is a privately owned, clinical genetics-based drug discovery and development company engaged in developing novel therapies for rare diseases. For more information, visit www.xenon-pharma.com.
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