Merck obtains rights to Teijin's tau candidate

Teijin Pharma Ltd. (Tokyo, Japan) granted Merck & Co. Inc. (NYSE:MRK) exclusive rights to an undisclosed preclinical antibody targeting microtubule-associated protein tau (tau; MAPT; FTDP-17). Merck plans to develop the candidate to treat Alzheimer’s disease.

Teijin will receive an undisclosed upfront payment and is eligible for milestones and royalties. The company also retains an option to co-promote the antibody in Japan. Merck declined to provide further deal terms...