Celltech Group deal

U.K.-based Celltech signed a letter of intent with Merck & Co. to develop and market once-daily oral compounds to treat asthma.

The compounds covered in the agreement inhibit an enzyme known as phosphodiesterase IV. The lead compound, CDP 840, has completed Phase I studies in London. Phase II studies are scheduled to begin in September. Merck will carry out later Phase II and Phase III trials. ...