PDE10 Inhibitors
In October 2005, we entered into an exclusive worldwide collaboration and license agreement with Amgen to develop PDE10 inhibitors as potential treatments for certain neurological and psychiatric disorders, which included an upfront payment, two years of research funding, plus milestone payments for research, development, approval and sales events and royalties on sales, if such milestones and sales are achieved.
In March 2008, the companies extended the preclinical research portion of the collaboration for an additional twelve months. We will provide preclinical research resources and increased access to our screening technologies to the collaboration, and in exchange, we will receive increased milestone payments upon the achievement of certain predefined development events for the program. In addition, the parties expanded the scope of compounds eligible for higher tier royalties under the agreement.