Germany's ElexoPharm in CVD collaboration with Merck & Co, potentially worth 33.8 million euros

US drugs giant Merck & Co has entered into a collaboration with German firm ElexoPharm GmbH to develop and commercialize novel candidates targeting aldosterone synthase for the potential treatment of cardiovascular disease.

Under the terms of the deal, Merck will pay ElexoPharm an upfront payment of 1.5 million euros ($1.9 million). In addition, ElexoPharm is eligible to receive up to an additional 32.3 million euros if specific development, regulatory and commercial milestones are achieved for a candidate and royalties on net sales of any products resulting from the collaboration. Merck is responsible for development, regulatory filings, manufacturing and commercialization activities.

'This agreement marks a major milestone in ElexoPharm's relatively recent company history," said Axel Koch, managing director of ElexoPharm GmbH.