Idera qualifies for a milestone payment

Idera Pharmaceuticals Inc. of Cambridge said it is in line to receive a milestone payment of $3.8 million in connection with its collaboration with Merck KGaA of Germany to develop cancer treatments.

The milestone relates to the dosing of the first patient in a clinical study of IMO-2055 in combination with Erbitux and Camptosar in patients with colorectal cancer, Idera Pharmaceuticals said.

The company noted in a press release that "Idera Pharmaceuticals entered into a worldwide licensing and collaboration agreement with Merck KGaA of Germany in December 2007 for the research, development, and commercialization of Idera's Toll-like Receptor 9 agonists for the treatment of cancer.

To read that press release, please click here.
(By Chris Reidy, Globe staff)