Mitotix, DuPont Merck Pharmaceutical Co. deal

Mitotix and DuPont Merck entered into a collaboration worth up to $55 million to develop and commercialize cancer therapeutics that act on cyclin-dpendent kinases (Cdks), a family of enzymes that regulate cell division.

DuPont Merck will make an upfront equity payment and contribute research funding totaling $17 million over four years, including funding all preclinical R&D. An additional $38 million may be paid to Mitotix in Cdk research funding extensions and milestones, plus royalties. In addition, Mitotix's venture investors will make a $3 million equity investment in the company. ...