| MSD extends arterial plaque research collaboration | Posted on 28/09/2006 in Pharmaceutical Company Product News Merck Sharp & Dohme (MSD) has announced the expansion of a partnership with FoxHollow Technologies for the research of atherosclerotic plaque analysis.
The company will acquire approximately $95 million (50 million pounds) worth of stock in FoxHollow, while making a payment of $40 million over the course of four years for the research collaboration.
Additionally, MSD will provide a minimum of $60 million in funding during the first three years of the partnership for research activities, including the analysis of atherosclerotic plaque and drug profiling, for which FoxHollow could receive further milestone payments, depending on success.
Peter S Kim, president of Merck Research Laboratories, commented: "Our first year of collaboration with FoxHollow has given us novel insights into cardiovascular disease and we're very pleased to enlarge our relationship today to continue this focus on cardiovascular disease while including other important disease areas as well."
John Simpson, FoxHollow's chief executive officer, said that the ability to analyse atherosclerotic plaque "unlocks a tremendous amount of valuable information", something described by Dr Kim as a "first time in any pharmaceutical company's history".
Atherosclerosis is known to affect people in their 20s, although it increases in prevalence with age. The condition can cause strokes and heart attacks, as well as angina and coronary thrombosis.
Other news stories from 28/09/2006
Read more in the Zenopa News Archive
How this news is generated
|  |
|
