Diakron in-licenses program, finds partner

Diakron Pharmaceuticals has simultaneously struck a pair of deals to in-license a Phase I oral anti-coagulant therapy from Merck while signing India's Orchid Chemicals as a development partner for the program. Orchid will undertake the next stages of development. None of the financial terms were revealed.

"We are extremely pleased to be able to license this compound from Merck for further development and commercialization," said Srirama Rao, Ph.D., the Chairman of Diakron. "We are also pleased that Orchid is partnering with us as a significant shareholder and developer of this compound, leveraging its world-class R&D infrastructure in India. This will allow Diakron to fast-track development of this unique anticoagulant product as its number one priority."

- read the Diakron release