Merck & Co returns Ampakine compounds rights to Cortex; signs antibacterials deal with BioRelix

In a further re-evaluation of its research priorities, US drugs giant Merck & Co (NYSE: MRK) has returned worldwide rights to develop and commercialize Ampakine compounds for the treatment of schizophrenia and depression to fellow USA-based Cortex Pharmaceuticals (OTCBB: CORX).

In January 1999, Cortex entered into a research collaboration and exclusive worldwide license agreement with Dutch group Organon (now part of Merck), which granted the latter exclusive, worldwide rights to develop and commercialize Ampakine compounds for the treatment of schizophrenia and depression. Organon is now a subsidiary of Merck. As part of an ongoing prioritization process, Merck has decided not to proceed further with its development program on these, and has returned its exclusive rights to develop the compounds. Last week also saw Merck give up rights to AVEO Pharma’s AV-299, an anti-hepatocyte growth factor antibody candidate, and also Caeylx (pegylated liposomal doxorubicin) to Johnson & Johnson’s Janssen unit (The Pharma Letter October 1).

“The return of these rights to Cortex now allows us to develop our lead Ampakine compounds for these serious psychiatric disorders,” said Mark Varney, president and chief executive of Cortex. “Data from animal models suggests Ampakine compounds could treat the cognitive deficits that occur in as much as 75% of individuals with schizophrenia. In addition, recent animal work suggests Ampakine compounds like CX1739 could be effective therapies for depression, and could potentially provide a much more rapid onset of antidepressant activity and represent a completely new mechanism of treating this disorder,” he added.