Separately, Orchid Pharma has become a significant shareholder of Diakron to conduct further clinical investigations.
Diakron Pharmaceuticals has licensed Merck & Co.’s Phase I anticoagulant drug candidate. Simultaneously, Orchid Chemicals & Pharmaceuticals has become a significant shareholder of Diakron and will assist in development efforts related to this compound.
The agreement with Merck states that Diakron has the exclusive rights to develop, market, and distribute the drugworldwide. Orchid reports that it will undertake the next stages of development. “This will allow Diakron to fast-track development of this unique anticoagulant product as its number one priority,” explains Srirama Rao, Ph.D., a founder and the chairman of Diakron.