Merck Sharp and Dohme out-licenses depression therapy to Cerecor

Merck Sharp and Dohme has out-licensed MK-0657, a small molecule NMDA receptor subunit 2B antagonist therapy, to the biopharmaceutical company Cerecor.

The neuroscience-focused business will gain exclusive worldwide rights to develop and commercialise the drug for all human indications, including depression, a key area of unmet medical need.

Initially developed by Merck as a treatment for Parkinson's disease, it is now thought that NR2B antagonists such as MK-0657 could offer significant benefits for patients who have failed to respond to currently available therapies.

Cerecor expects to complete the relevant technology transfer activities by mid-2013, with clinical trials to be initiated after this.

Dr David Michelson, vice-president of clinical neuroscience and ophthalmology at Merck Research Laboratories, said: "Merck is pleased to sign this agreement with Cerecor as part of its ongoing out-licensing strategy. Cerecor has established scientific and clinical expertise in the area of treatment-resistant depression."

Earlier this month, Merck announced a new collaboration with Ra Pharmaceuticals, focusing on the study of a promising new class of compounds called Cyclomimetics across a range of indications.