Who Needs a CEO? Lycera Strikes Deal with Pharma Giant Merck
Xconomy, Thomas Lee, March 3rd, 2011- Lycera founder and chief scientific officer Gary Glick is feeling pretty good these days. And who can blame him?
Just last fall, CEO Bill Sibold left the Plymouth, MI-based drug startup after less than a year on the job. That’s usually not a good sign.
Six months later, Lycera still doesn’t have a CEO. But that hardly seems to matter. Last month, the journal Science Translational Medicine published a Lycera study that validated its key cellular bioenergetics technology to treat autoimmune diseases.
And now this: Lycera announced today that it will collaborate with drug giant Merck to develop its Th17 drug program, a deal that includes $12 million in upfront cash, research funding, and clinical and regulatory milestone payments worth up to $295 million.
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