SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Acumen Pharmaceuticals Inc., a leading pre-clinical biotech company working in Alzheimer's therapeutics, today announced that its collaboration with Merck & Co., Inc. has achieved a $5 million milestone in the antibody program. The milestone was triggered by certain development activities.
The two companies signed a license agreement in 2003 to research and develop disease-modifying therapeutic drugs for Alzheimer's disease and other memory-related disorders. Under the terms of the original agreement, Merck obtained an exclusive license to research and develop antibody products, an option to develop vaccine products and certain diagnostic rights. In November, Merck amended the collaboration agreement to include an exclusive license grant to Merck for the diagnostic related rights.
"Merck continues to demonstrate why they are an excellent partner. This program has advanced so rapidly and so well because of the first class team Merck has deployed. We are excited by the results this collaboration has achieved, and are optimistic about its clinical prospects," said David Summa, President & CEO of Acumen.
"Merck is committed to developing disease modifying therapeutics for Alzheimer's. The Acumen collaboration has generated promising antibodies and we look forward to advancing them to the clinic," said Ken Koblan, Ph.D. Vice President, Neuroscience Research at Merck Research Laboratories. "Collaborations with biotech companies continue to be a vital part of Merck's strategy. We think the Acumen collaboration is an excellent example of how well biotech-pharmaceutical collaborations can work."
Acumen Pharmaceuticals Inc. (www.acumenpharm.com) is a venture-backed, pre-clinical biotech company focused on developing the first effective therapeutics and diagnostics for Alzheimer's disease and other memory-related disorders. Founded in 1996, Acumen owns or has licensed certain important patents underlying the ADDL mechanism now widely believed to cause Alzheimer's disease. Acumen has two small molecule programs at the lead chemistry stage of development in the Alzheimer's. NeuroVentures LLC and the Biotechnology Value Fund are investors in the company.
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Source: Acumen Pharmaceuticals Inc.
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