Cocrystal Pharma Announces Exclusive Worldwide License and Collaboration Agreement with Merck
January 03 2019 - 8:30AM
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, hepatitis C viruses and
noroviruses, announced today that it has entered into an exclusive
license and collaboration agreement with Merck to discover and
develop certain proprietary influenza A/B antiviral agents.
Under the terms of the agreement, Merck will
fund research and development for the program, including clinical
development, and will be responsible for worldwide
commercialization of any products derived from the collaboration.
Cocrystal will be paid an undisclosed upfront sum and is eligible
to receive payments related to designated development, regulatory
and sales milestones with the potential to earn up to $156 million,
as well as undisclosed royalties on product sales.
“We are thrilled to work with Merck, a
preeminent research-intensive pharmaceutical company, to advance
the development of certain influenza A/B antivirals. Our R&D
team has been intently focused on advancing our influenza program
forward and we believe the combination of Merck resources and our
innovative platform will enable us to rapidly advance important new
treatments for influenza, which is a significant worldwide unmet
need,” commented Dr. Gary Wilcox, Vice Chairman and Chief Executive
Officer of Cocrystal. “This collaboration is a significant
milestone for Cocrystal that we believe further validates our
approach to drug discovery with our unique structure-based
technologies and Nobel Prize winning expertise to create first- and
best-in-class antiviral drugs.”
“Collaborations like this are an integral part of our infectious
disease R&D strategy,” said Dr. Daria Hazuda, Chief Scientific
Officer Merck Exploratory Science Center and Vice President
Infectious Diseases and Vaccines Discovery, Merck Research
Laboratories. “New meaningful options for the treatment of
influenza are badly needed. We look forward to working with
Cocrystal’s experienced team.”
About Cocrystal Pharma, Inc.
Cocrystal Pharma, Inc. is a clinical stage
biotechnology company discovering and developing novel antiviral
therapeutics that target the replication machinery of influenza
viruses, 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. Novel
inhibitors effective against influenza strains A and B have been
identified and are in the preclinical stage. Several of these have
potencies approaching single digit nanomolar. The Company’s lead
candidate CC- 42344 for influenza strain A is effective in animal
models against both the pandemic and seasonal strains of influenza
A. We continue to identify and develop non-nucleoside polymerase
inhibitors for Norovirus infections using the Company’s proprietary
structure-based drug design technology platform. For further
information about Cocrystal, please visit
www.cocrystalpharma.com.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including our expectations regarding the timing
for achievement of certain research and clinical development
milestones related to the licensing agreement with Merck as well as
royalties on any product sales. 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 the availability of products
manufactured by third parties, the results of planned research and,
if successful, clinical trials, and receipt of regulatory
approvals. Further information on our risk factors is contained in
our filings with the SEC, including our Quarterly Report on Form
10-Q for the quarter ended September 30, 2018, the Prospectus
Supplement dated July 19, 2018, and our Annual Report on Form 10-K
for the year ended December 31, 2017. 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 and Media Contact:
Jenene Thomas Communications, LLC (833) 475-8247
COCP@jtcir.com
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