NEW YORK (GenomeWeb News) — Gene Logic today said it will help Solvay Pharmaceuticals identify alternative development paths for multiple undisclosed drug candidates.
All of these drug candidates were discontinued or de-prioritized in clinical trials for reasons other than safety.
Terms of the deal call for Gene Logic to pocket milestone and royalty payments similar to those paid for development-stage in-licensing deals, discounted for the fact that Solvay originally identified the compounds.
The deal also gives Gene Logic the option to receive an exclusive license to any candidate for which Gene Logic identifies a potential new therapeutic use that Solvay chooses not to develop. If Gene Logic elects to obtain such a license, Solvay would be entitled to success-based milestone and royalty payments.
Last week, Gene Logic said it would help Merck Serono, a division of German drug maker Merck, identify alternative development paths for “several” undisclosed drug candidates.