Theravance,
Inc. THRX announced today that it has signed a collaboration
agreement with Merck, known as MSD outside the United States and Canada, to
discover, develop and commercialize novel small molecule therapeutics directed
towards a target being investigated for the treatment of hypertension and
heart failure.
In exchange for granting Merck a worldwide, exclusive license to its
therapeutic candidates, Theravance will receive a $5 million upfront payment,
funding for research, and be eligible for milestone payments totaling up to
$148 million for the first indication and royalties on worldwide net sales of
any products derived from the collaboration.
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