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1902 MAR 27 - (NewsRx.com & NewsRx.net) -- CytRx Corp. (CYTR) announced that it has received a $1 million milestone payment due from Merck & Co., Inc., pursuant to Merck's license of CytRx's TranzFect technology.
CytRx's TranzFect technology is incorporated in an experimental DNA-based HIV vaccine being developed by Merck & Co., Inc., that has now entered phase I clinical trials. Merck's initiation of this study triggered the milestone fee payable to CytRx.
Merck scientists hope the clinical trials will lead to the development of an HIV vaccine that can effectively prevent, or attenuate, the development of AIDS resulting from HIV infection, as well as help treat HIV ...
Source: HighBeam Research, CytRx s receives $1M milestone payment from Merck for TranzFect...