A developer of novel drug delivery – MediVas, LLC – has recently signed an exclusive technology evaluation and exclusive option agreements with Merck & Co., Inc. (NYSE: MRK) focused on several orally available biologics delivered using MediVas' proprietary polymer delivery system.
The terms of agreement entitles MediVas to an upfront cash payment as well as research funding and milestones during the evaluation period.
Other financial terms of the agreement were not disclosed.
According to Kenneth W. Carpenter, MediVas' President and CEO:
"We are pleased to partner with Merck, whose leadership in the area of biologics makes them an ideal partner for MediVas. MediVas' novel polymer platforms have the potential to shift the paradigm of biologics delivery and open the door for a novel generation of therapeutics."Source: MediVas LLC
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