Lycera Corp. has entered a collaboration agreement with Merck to discover, develop and commercialize small-molecule therapies for the treatment of a broad range of immune-mediated disorders. Lycera will receive an undisclosed upfront payment and research funding, and is eligible to receive more than $300 million in research, development, regulatory, and commercial milestones. Merck is responsible for clinical development and will have worldwide marketing and commercialization rights to any produ...