Cocrystal Pharma Announces Further Development of Influenza A/B Antiviral Compounds by Merck under Exclusive Worldwide License and Collaboration Agreement
- Category: Small Molecules
- Published on Wednesday, 20 January 2021 10:47
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Program advances within the agreement’s initial two-year timeframe
BOTHELL, WA, USA I January 19, 2021 I Cocrystal Pharma, Inc. (Nasdaq: COCP), (“Cocrystal” or the “Company”), a clinical-stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication machinery of influenza viruses, SARS-CoV-2 virus, hepatitis C viruses and noroviruses, announces it has completed all research obligations under the Merck exclusive worldwide license and collaboration agreement, and that Merck is now solely responsible for further development of the influenza A/B antiviral compounds that were discovered using Cocrystal’s unique structure-based technologies and Nobel Prize-winning expertise.
“Through a highly productive relationship with Merck, teams from both companies worked collaboratively to rapidly advance the discovery and initial development of promising proprietary influenza A/B antiviral compounds,” said Gary Wilcox, Ph.D., Chairman and Chief Executive Officer of Cocrystal. “Under the agreement announced in January 2019, Merck had an option for Cocrystal to perform up to 12 months of additional work if the initial two years of collaboration did not progress as expected. We are pleased our collaboration achieved its goals within the timeline and that there is no need for Merck to exercise the option. As this program advances, Merck is now responsible for funding continued development of the compounds.”
“Developing new, effective influenza antivirals represents a significant unmet worldwide medical need and is integral to our infectious diseases R&D strategy,” said Daria Hazuda, Ph.D., Vice President, Infectious Diseases Discovery, Merck Research Laboratories and Chief Scientific Officer, Merck Exploratory Science Center. “We are pleased with the progress under our collaboration with Cocrystal and look forward to further development of the antiviral agents in the influenza A/B program at Merck.”
About Cocrystal Pharma, Inc.
Cocrystal Pharma, Inc. is a clinical-stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication process of influenza viruses, coronaviruses (including SARS-CoV-2), hepatitis C viruses, and noroviruses. Cocrystal employs unique structure-based technologies and Nobel Prize-winning expertise to create first- and best-in-class antiviral drugs. For further information about Cocrystal, please visit www.cocrystalpharma.com.
SOURCE: Cocrystal Pharma