Japan's PeptiDream, Merck in targeted peptide deal

Japan's PeptiDream said it and Merck ($MRK) signed a collaboration agreement to produce targeted peptides for treating a variety of diseases. The arrangement is the latest in the biopharmaceutical's long list of deals with multinational drug makers.

Under the arrangement with Merck, the Japan-based company retains its peptide-discovery platform technology and licenses development and marketing rights to Merck, along with a later option to a nonexclusive license for the technology itself.

Financial arrangements were not divulged, but they include the usual upfront payment, milestone payments and royalties.

- here's the PeptiDream release (PDF)