Full Press Release Details
Pharma Announces Exclusive Worldwide License and Collaboration Agreement with Merck
WA, January 3, 2019 - Cocrystal Pharma, Inc. (NASDAQ: COCP), ("Cocrystal" or the "Company"),
a clinical stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication machinery
of influenza viruses, hepatitis C viruses and noroviruses, announced today that it has entered into an exclusive license and collaboration
agreement with Merck to discover and develop certain proprietary influenza A/B antiviral agents.
the terms of the agreement, Merck will fund research and development for the program, including clinical development, and will
be responsible for worldwide commercialization of any products derived from the collaboration. Cocrystal will be paid an undisclosed
upfront sum and is eligible to receive payments related to designated development, regulatory and sales milestones with the potential
to earn up to $156 million, as well as undisclosed royalties on product sales.
are thrilled to work with Merck, a preeminent research-intensive pharmaceutical company, to advance the development of certain
influenza A/B antivirals. Our R&D team has been intently focused on advancing our influenza program forward and we believe
the combination of Merck resources and our innovative platform will enable us to rapidly advance important new treatments for
influenza, which is a significant worldwide unmet need," commented Dr. Gary Wilcox, Vice Chairman and Chief Executive Officer
of Cocrystal. "This collaboration is a significant milestone for Cocrystal that we believe further validates our approach
to drug discovery with our unique structure-based technologies and Nobel Prize winning expertise to create first- and best-in-class
like this are an integral part of our infectious disease R&D strategy," said Dr. Daria Hazuda, Chief Scientific Officer
Merck Exploratory Science Center and Vice President Infectious Diseases and Vaccines Discovery, Merck Research Laboratories. "New
meaningful options for the treatment of influenza are badly needed. We look forward to working with Cocrystal's experienced
Cocrystal Pharma, Inc.
Pharma, Inc. is a clinical stage biotechnology company discovering and developing novel antiviral therapeutics that target the
replication machinery of influenza viruses, hepatitis C viruses, and noroviruses. Cocrystal employs unique structure-based technologies
and Nobel Prize winning expertise to create first- and best-in-class antiviral drugs. Novel inhibitors effective against influenza
strains A and B have been identified and are in the preclinical stage. Several of these have potencies approaching single digit
nanomolar. The Company's lead candidate CC- 42344 for influenza strain A is effective in animal models against both the
pandemic and seasonal strains of influenza A. We continue to identify and develop non-nucleoside polymerase inhibitors for Norovirus
infections using the Company's proprietary structure-based drug design technology platform. For further information about
Cocrystal, please visit www.cocrystalpharma.com.
press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995,
including our expectations regarding the timing for achievement of certain research and clinical development milestones related
to the licensing agreement with Merck as well as royalties on any product sales. The words "believe," "may,"
"estimate," "continue," "anticipate," "intend," "should," "plan,"
"could," "target," "potential," "is likely," "will," "expect"
and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking
statements largely on our current expectations and projections about future events. Some or all of the events anticipated by these
forward-looking statements may not occur. Important factors that could cause actual results to differ from those in the forward-looking
statements include the availability of products manufactured by third parties, the results of planned research and, if successful,
clinical trials, and receipt of regulatory approvals. Further information on our risk factors is contained in our filings with
the SEC, including our Quarterly Report on Form 10-Q for the quarter ended September 30, 2018, the Prospectus Supplement dated
July 19, 2018, and our Annual Report on Form 10-K for the year ended December 31, 2017. Any forward-looking statement made by
us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may
emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update
any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required
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