Roche to develop Memory's candidate
Swiss drug major Roche will exercise its option to develop and commercialize US firm Memory Pharmaceuticals' drug candidate, MEM 3454, for the treatment of neurological and psychiatric disorders (Marketletters passim).
The move triggers a $6.0 million payment for Memory and will entitle it to further milestones and royalties. This will include a $17.0 million payment on the completion of the current Phase IIa trials.
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