Merck returns rights
Geneva – Swiss biotech Addex Pharmaceuticals AG has regained all rights to its metabotropic glutamate receptor 4 (mGluR4) positive allosteric modulator (PAM) programme from Merck&Co, (known as MSD outside the United States and Canada). The Big Pharma company cited a pipeline review as the reason for terminating the contract. “We continue to strongly believe that mGluR4 is a highly attractive target for treating Parkinson`s and other serious diseases,” said Bharatt Chowrira, the new CEO of Addex (see p. 33). Under the agreement, Addex will regain the rights to intellectual property and know-how, and can pursue the programme independently. At the start of the Merck deal in 2007, Addex grabbed US$3m up-front with a promise of up to US$106.5m in potential future payments.