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GlycoFi, Inc. And Merck & Co., Inc. (MRK) Enter Into Broad Strategic Alliance For Research And Development
12/12/2005 1:16:59 PM
LEBANON, N.H.--(BUSINESS WIRE)--Dec. 12, 2005--GlycoFi today announced that it has established a broad strategic alliance and multi-year research collaboration with Merck & Co., Inc. The alliance will focus on the use of GlycoFi's yeast-based glycoprotein optimization platform to develop novel biologic and vaccine drug candidates. GlycoFi and Merck scientists will work together to deploy GlycoFi's technology to produce and optimize various pharmaceutical properties of a broad range of Merck's biologic drug candidates, including vaccines, antibodies, and other therapeutic proteins.
Under the terms of the agreement, Merck will make an upfront cash payment and an equity investment in GlycoFi, and fund GlycoFi's research efforts taking place under the program. GlycoFi is eligible to receive milestone payments as products from the collaboration move through development, and a royalty on sales of commercialized products.
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