Affectis will receive €2.4 million in up-front payments and research funding from Merck Serono as part of an agreement to develop oral neurodegenerative disease therapies targeting the P2X7 receptor. The deal gives Merck Serono worldwide exclusive rights to develop and commercialize selected compounds, and includes a research collaboration focused on optimizing P2X7 antagonists. Affectis could receive up to €277 million in milestone payments for the first three products developed through the partnership.