|
|
Article: Nuevolution Announces Receipt of Milestone Payment From Merck & Co., Inc.
- Article from:
- PR Newswire
- Article date:
- November 2, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
COPENHAGEN, November 2 /PRNewswire/ -- Nuevolution A/S today announced that it has received a milestone payment derived from its collaboration with Merck & Co. Inc., Whitehouse Station, NJ.
The payment was triggered following identification of several candidate molecules that conformed to the prespecified criteria established under the terms of the original agreement. These include several accepted drug-like characteristics and nanomolar potency.
In its collaboration with Merck, Nuevolution is applying its proprietary Chemetics(R) technology to identify novel small molecule leads against drug targets of interest to Merck. Nuevolution has so far screened ...