NicOx inks $351M licensing deal with Merck

France's NicOx has inked a licensing deal with Merck that will net $11.2 million up front and up to $340 million in milestone payments. Merck gains the exclusive use of NicOx's nitric oxide-donating technology to develop anti-hypertensive therapies. NicOx will be involved in selecting lead drug candidates and Merck will be responsible for all further clinical development work. This is the second big licensing deal for Merck in two days. The drug giant has been avidly pursuing new therapies for its pipeline. It's also the second big licensing deal in a month for NicOx. The company signed a deal giving Pfizer the use of the technology to develop new ophthalmology therapies.

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PLUS: NicOx stock soared on the announcement. Report