MUMBAI, India The drug developing company Nicholas Piramal has signed an agreement with Merck to research and develop new cancer drugs.
Nicholas Piramal will receive milestone payments of as much as $175 million on each of the two selected targets provided by Merck, as well as sales royalties on any products that may result from the collaboration. Merck will have the option to conduct late-stage clinical trials and commercialize the drugs. Nicholas Piramal will be responsible for carrying out an integrated drug-discovery program followed by non-clinical and clinical studies.
“Merck is excited to collaborate with a company with the discovery and development capabilities of NPIL,” said Merv Turner, senior vice president of worldwide licensing and external research at Merck. “This agreement furthers our strategy of building global alliances that expand and advance Merck’s pipeline, especially in countries such as India with rapidly expanding drug discovery competencies.”