Anavex Life Sciences Corp (AVXL)

[tradeherpete]

Looks like BP is starting to come around.

Merck & Company(MRK) said early Thursday it signed an exclusive worldwide license agreement with Japanese pharmaceutical company Teijin Pharma to develop, manufacture and commercialize an investigational preclinical antibody candidate targeting the protein tau.

Changes in tau are associated with a number of diseases affecting the nervous system, including Alzheimer's disease.

Under terms of the deal, Merck will have exclusive worldwide rights to develop, manufacture and commercialize the anti-tau antibody. In exchange, Merck will make an upfront payment to Teijin Pharma, which is also eligible to receive development, regulatory and sales milestone payments. In addition, Teijin Pharma will receive royalties on product sales and retains an option to co-promote an approved product in Japan