Addex Achieves Second Merck Milestone

Addex Pharmaceuticals reached the second preclinical milestone in an exclusive collaboration and license agreement with Merck, focused on developing allosteric modulators for treatment of Parkinson’s disease and other undisclosed indications. Addex will receive $500,000 for the second milestone.

Using allosteric modulators, this collaboration is focused on developing drugs that specifically activate the metabotropic glutamate receptor 4 (mGluR4). The preclinical study showed the desired non-dopaminergic activity profile after oral administration of mGluR4 positive allosteric modulator (PAM) in an animal model of Parkinson’s disease.

Under the terms of the agreement, Addex is eligible to receive as much as $106.5 million in research, development and regulatory milestones for the first product developed for multiple indications. Additional milestones of as much as $61 million would be payable if a second and third product is developed. Addex is also eligible to receive royalties on sales of any products resulting from this collaboration. Merck is responsible for clinical development.