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01 October 2010

AVEO, Merck end collaboration on experimental drugM

AVEO Pharmaceuticals Inc. said it has regained worldwide rights to a drug candidate that has the potential to treat such diseases as non-small cell lung cancer.
Cambridge-based AVEO had been collaborating with drug giant Merck to develop the drug candidate, known as AV-299. Now AVEO will go it alone on AV-299.
AVEO's press release included a statement from David Nicholson, senior vice president and head of worldwide licensing and knowledge management at Merck.
"Merck is pleased with our history of collaborating with AVEO, and would welcome the opportunity to work with AVEO again in the future," said David Nicholson, Ph.D., senior vice president and head of worldwide licensing and knowledge management at Merck. "The decision to return this program to AVEO is a result of portfolio prioritization."
In June, AVEO initiated a Phase 2 clinical trial evaluating AV-299 in combination with gefitinib versus gefitinib monotherapy in patients with non-small cell lung cancer, AVEO's press release noted. "In conjunction with the Phase 2 trial initiation, AVEO received an $8.5 million milestone payment from Merck."

**Published in "Boston.com"

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