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SurModics, Merck enter research agreement for I-vation implant
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EDEN PRAIRIE, Minn. — SurModics and Merck have entered into a license and research collaboration agreement to jointly develop and commercialize the I-vation triamcinolone acetonide sustained drug delivery system, the companies announced in a press release.
Under the agreement, Merck will lead and fund both development and commercialization activities for the SurModics I-vation drug delivery platform for delivering triamcinolone acetonide as well as other proprietary Merck compounds.
SurModics will receive an upfront licensing fee of $20 million. In addition, it will be eligible for up to $288 million in fees and development milestones associated with successful product development and U.S. and European regulatory approvals for any new combination products. Merck will also reimburse SurModics for its development activities. SurModics will be responsible for manufacturing and supplying clinical and commercial products and will be paid royalties on product sales, according to the release.
The agreement represents the first license for SurModics' sustained drug delivery platforms, company officials noted in the release.
The I-vation implant is currently being evaluated in a phase 1 clinical trial for delivering triamcinolone acetonide to treat diabetic macular edema.