MONMOUTH JUNCTION, N.J. USA-July 22, 2009– MicroDose Therapeutx Inc. (formerly MicroDose Technologies) today announced that Merck & Co., Inc., through an affiliate, has exercised an option to extend its license to the MicroDose Dry Powder Inhaler (DPI) technology to an additional investigational compound. This option originates from the previously announced collaboration agreement between the two companies and triggers the payment of an undisclosed exercise fee to MicroDose.
Under the terms of the collaboration agreement, Merck funds costs of development and commercialization of products that employ MicroDose’s DPI technology for the administration of Merck compounds. MicroDose is eligible to receive milestone payments and royalties on revenues from all products developed under the agreement.