NicOx Achieves First Milestone of Euro 5M From Merck
Payment instigated by NicOx beginning GLP toxicology studies of first antihypertensive candidate.!--h2>
NicOx initiated GLP toxicology studies on the first antihypertensive candidate selected along with Merck & Co., according to a deal between the two firms. NicOx thus received its first milestone of Euro 5 million.
NicOx and Merck have been working together since March 2006 to develop and commercialize new antihypertensive drugs using NicOx' nitric oxide-donating technology for the treatment of high blood pressure, complications of hypertension, and other cardiovascular and related disorders.
NicOx previously received Euro 9.2 million from Merck and stands to receive Euro 274 million in future potential milestone payments.