Pharmacopeia is gaining a $15 million payment from Organon to join in a research and development pact. Researchers from the two companies will jointly develop new compounds that will then be advanced by Organon, a unit of Akzo Nobel, while leaving co-commercialization rights to Pharmacopeia. If Pharmacopeia bows out of co-marketing a drug it can gain milestones instead.
"Our new alliance with Pharmacopeia provides Organon with access to industry-leading small molecule discovery capability," says David Nicholson, executive vice president research and development of Organon. "And with Pharmacopeia's evolution into a therapeutic products business, (it) enables Organon to continue to build its clinical pipeline with a valued, long-term partner."
- check out the release on the collaboration
- here's the AFX report on the deal