Envoy's successfull application of bacTRAP technology triggers milestone payment from Merck

Dec 16 2010

Envoy Therapeutics, Inc., a drug discovery company, today announced that it has reached a milestone in its strategic alliance with Merck (known outside the US and Canada as MSD). The milestone was linked to Envoy successfully applying its bacTRAP^® technology in certain tissues that are important to diabetes and obesity. Achievement of the milestone has entitled Envoy to receive a cash payment from Merck.

“We look forward to further advancing this program as we work together to discover new medicines in these critical therapeutic areas.”

"We are pleased to have met this important milestone less than one year after initiating our alliance with Merck," said Brad Margus, Chief Executive Officer of Envoy. "We look forward to further advancing this program as we work together to discover new medicines in these critical therapeutic areas."

In January 2010, Envoy announced an alliance with Merck focused on developing new treatments for diabetes and obesity. The alliance makes use of Envoy's proprietary bacTRAP^® technology platform for the identification of novel targets in specific cell types of interest in the physiology of diabetes and obesity.