Cerecor acquires rights to NR2B receptor antagonist from Merck & Co

Privately-held US neuroscience biotech firm Cerecor says that it has acquired exclusive, worldwide rights from Merck & Co to develop and commercialize MK-0657, a small molecule NMDA receptor subunit 2B (NR2B) antagonist for all human indications, including depression, a second deal with the US pharma giant in a matter of a month.

Under the terms of the latest agreement, Cerecor will immediately assume full development and commercialization responsibilities of MK-0657. The license consideration includes milestone payments and royalties consistent with clinical stage licenses in neuroscience. Cerecor anticipates completing the technology transfer activities by mid-2013 and thereafter initiating clinical trials.

Last month, Cerecor acquired exclusive, worldwide rights to develop, register and commercialize agents that inhibit catechol-O-methyltransferase inhibitors (COMT inhibitors), previously discovered and owned Merck (The Pharma Letter March 22). Financial terms of neither deal were disclosed.