Merck, Ambrilia HIV deal

Ambrilia (TSX:AMB) granted MRK exclusive worldwide rights to a protease inhibitor program to treat HIV/AIDS. The lead compound, PPL-100, is in Phase I testing. AMB will receive an upfront licensing fee of $17 million and is eligible for up to $215 million in milestones, plus royalties. AMB can earn the first milestone, $3 million, upon the completion of a Phase I pharmacokinetic study. Data are expected in late November. After the trial, MRK will assume all development costs related to PPL-100. On top of the $215 million, AMB is eligible for additional milestone payments and royalties for undisclosed backup compounds and related compounds developed by MRK that fall within the scope of the AMB protease inhibitor program. ...