ElexoPharm, Merck partner to develop CVD treatment

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ElexoPharm GmbH, a biotechnology company, has partnered with Merck to develop and market novel aldosterone synthase agents to better treat cardiovascular disease.

Under the terms of agreement, Whitehouse Station, N.J.-based Merck will pay ElexoPharm upfront payments of €1.5 million ($1.9 million U.S.).

In addition, Saarbruecken, Germany-based ElexoPharm will be eligible to receive additional royalties of up to €32.3 million ($41 million U.S.) if development and regulatory milestones are achieved for the product.

According to ElexoPharm, Merck will be undertaking all development, regulatory and manufacturing actions during the collaboration.