Merck licenses Protiva R&D technology |
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Published
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Tue, 16 Oct 2007 22:51
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NEW YORK (AP) - Canada-based Protiva Biotherapeutics Inc. said Tuesday it licensed to Merck & Co. a technology used in research and development of treatments using RNA interference.The technology is called Stable Nucleic Acid-Lipid Particles, or SNALP, and is used in developing nucleic acid-based pharmaceuticals. SNALP delivers short interfering RNA to target cells, allowing more precise research.Protiva said it also agreed to drop all litigation against Merck subsidiary Sirna Therapeutics Inc. related to the SNALP technology that it is licensing.Protiva did not disclose specific terms of the license agreement, but will also get a one-time upfront payment and potential royalty payments based on whether Merck develops any products through the technology.Merck shares were unchanged in after-hours trading after losing 26 cents to close the regular session at $53.03.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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