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Nuevolution enters a license agreement with a subsidiary of Merck for small molecule compounds.
Nuevolution has entered a license agreement with a subsidiary of Merck & Co. for small molecule compounds targeting an undisclosed intracellular target for use as leads in Merck’s drug discovery and development. Under the terms of the agreement, Merck will gain exclusive rights for the further development and commercialization of the compounds.
This is the second agreement between Nuevolution and Merck. Nuevolution will receive an undisclosed upfront payment and milestone payments for certain preclinical, clinical, and agreed upon commercial milestones. In addition, Nuevolution is eligible to receive royalties on the commercial sales of approved products. Further financial details were not disclosed.