Abstract
Quartet Medicine and Merck & Co. have formed a research partnership based on Quartet’s pipeline of small-molecule drugs modulating the tetrahydrobiopterin (BH4) pathway. Quartet will receive $20 million, split equally between an up-front payment and milestone payments, to advance pain and inflammation treatment candidates to Phase II clinical trials. In return, Merck gets an exclusive option to purchase Quartet, in which case Quartet will receive an undisclosed option exercise payment and milestone payments of up to $575 million.
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