In June 2005, Verenium announced that it had expanded its existing agreement with MERCK & CO, Inc. for the development of novel therapeutic antibodies. Under the terms of the expanded agreement, Verenium will receive an additional up-front payment and research funding, and will be entitled to receive milestones based on the successful development of antibody candidates and royalties on sales of products developed under the collaboration. In January 2005, the two companies announced their initial antibody development agreement to apply Verenium’s MedEv™ antibody evolution platform in a joint development program.
Merck & Co., Inc. (NYSE: MRK) is a global research-driven pharmaceutical company dedicated to putting patients first. Established in 1891, Merck discovers, develops, manufactures and markets vaccines and medicines in over 20 therapeutic categories. For more information, visit www.merck.com.
