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Metabasis Therapeutics, Inc. announced an extension to the sponsored research term under its collaboration with Merck & Co., Inc. for an additional year, through June 2009
SAN DIEGO, Calif., USA | April 23, 2008 | Metabasis Therapeutics, Inc. (Nasdaq:MBRX) today announced an extension to the sponsored research term under its collaboration with Merck & Co., Inc. for an additional year, through June 2009. The two companies will continue their joint efforts to identify novel small molecule therapeutics with the potential to treat several diseases, including type 2 diabetes and other metabolic diseases, by activation of an enzyme called AMP-activated Protein Kinase (AMPK). AMPK is thought to play an important role in regulating carbohydrate and fat metabolism and consequently in metabolic diseases such as type 2 diabetes.
Merck and Metabasis will continue to work collaboratively with the goal of producing a candidate molecule suitable for clinical development. Merck will continue to fund research efforts at Metabasis for this project and has primary responsibility, including financial responsibility, for clinical development of any resulting therapeutic candidates as well as the right to market any products derived from the collaboration worldwide. Metabasis is eligible to receive payments upon achievement of certain candidate development milestones. Should a product be commercialized, Metabasis will receive a royalty on net sales and have the option to co-promote the product in the United States. Metabasis will receive $1.5 million over the course of the one-year extension to support its research efforts.
"We have made excellent progress working with our colleagues at Merck on this project to discover a clinical candidate," stated Dr. Ed Baracchini, senior vice president of business development. "Merck's decision to extend this collaborative effort reflects this progress and also recognizes our contributions in identifying activators of AMPK. AMPK has received considerable attention over the past several years based on its potential as a drug target for metabolic diseases. Our interest in AMPK stems not only from its therapeutic potential but also from our experience on enzymes that, like AMPK, use nucleotide binding sites to regulate their activity. Historically it has been difficult to find molecules that bind to these sites with high affinity and specificity. We look forward to continuing our strong relationship with Merck and its talented team of scientists on this attractive drug target for metabolic diseases."
About Metabasis (www.mbasis.com):
Metabasis is a biopharmaceutical company using its proprietary technologies, scientific expertise and unique capabilities for targeting the liver and liver pathways. The Company has established a broad pipeline of product candidates and advanced research programs targeting large markets with significant unmet needs. Metabasis' core area of focus is on the discovery and development of drug candidates to treat metabolic diseases such as hyperlipidemia and diabetes, among others. Although not a core focus of the Company, Metabasis has also discovered and developed drug candidates indicated for the treatment of liver diseases such as hepatitis and primary liver cancer, which it now intends to license or partner. All product candidates were developed internally using proprietary technologies.
SOURCE: Metabasis Therapeutics, Inc. |
