Merck returns drug rights to AVEO

Portfolio prioritization has caused Merck to return AV-299, an anti-hepatocyte growth factor antibody drug, to AVEO Pharmaceuticals. In June the developer initiated a Phase II trial of the drug, which triggered an $8.5 million milestone payment from Merck. Top-line efficacy data from the AV-299 Phase II trial are expected in late 2011. Release