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Alectos Snags Merck Deal

Vancouver, BC-based Alectos Therapeutics said today it has formed a research collaboration with pharmaceutical giant Merck to identify new drugs that block an enzyme thought to be related to Alzheimer’s disease. Alectos stands to gain as much as $289 million under the partnership, through a combination of upfront cash and development milestones, as well as royalties on future product sales, if there are any. Alectos is a spinoff from the lab of David Vocadlo at Simon Fraser University, and is led by CEO Ernest McEachern, a veteran of AnorMed.