Nuvelo expands collaboration pact with Archemix
In a newly expanded collaboration, Nuvelo has agreed to pay $4 million up front to Archemix and may invest $10 million more when Archemix goes public. Under the new agreement, which replaces the existing 50/50 collaboration, Archemix will be responsible for the discovery of short-acting aptamers targeting the coagulation cascade for use in acute cardiovascular procedures, and Nuvelo will be responsible for the development and worldwide commercialization of these aptamers. In addition, Nuvelo has designated NU172 as a development candidate.
- here's the release on the deal
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