We have studied the genetics of humans with severe phenotypes of relevance to cardiovascular disease.
We entered into a collaborative research and option agreement with Merck & Co. (Merck), in June 2009 to discover novel targets and compounds for the treatment of cardiovascular disease using our Extreme Genetics discovery platform. In June 2012, Merck exercised its option to obtain an exclusive license to a cardiovascular target and compound inhibitors discovered during the research collaboration. The target was identified using our platform where compound inhibitors of this target are predicted to provide beneficial effects on lipids that may provide protection against cardiovascular disease.
During the collaborative research term we received milestone and an option payment from Merck. We are eligible for further research, development and regulatory milestone payments of up to US$86.5 million plus royalties on sales of products.