Cocrystal Pharma Announces Further Development of Influenza A/B Antiviral Compounds by Merck under Exclusive Worldwide Licens...
January 19 2021 - 8:00AM
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.
Cautionary Note Regarding
Forward-Looking StatementsThis press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
regarding the further development of the influenza A/B compounds
and the future commercialization of the compounds. The words
"believe," "may," "estimate," "continue," "anticipate," "intend,"
"should," "plan," "could," "target," "potential," "is likely,"
"will," "expect" and similar expressions, as they relate to us, are
intended to identify forward-looking statements. We have based
these forward-looking statements largely on our current
expectations and projections about future events. Some or all of
the events anticipated by these forward-looking statements may not
occur. Important factors that could cause actual results to differ
from those in the forward-looking statements include, but are not
limited to, the results of Merck’s further research, products
developed by competitors and internal issues related to Merck.
Further information on our risk factors is contained in our filings
with the SEC, including our Prospectus Supplement dated August 26,
2020 and our Annual Report on Form 10-K for the year ended December
31, 2019. Any forward-looking statement made by us herein speaks
only as of the date on which it is made. Factors or events that
could cause our actual results to differ may emerge from time to
time, and it is not possible for us to predict all of them. We
undertake no obligation to publicly update any forward-looking
statement, whether as a result of new information, future
developments or otherwise, except as may be required by law.
Investor Contact:LHA Investor
RelationsJody Cain310-691-7100jcain@lhai.com
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