Roche has exercised its option to further develop and commercialize Memory Pharmaceuticals’ lead nicotinic alpha-7 agonist drug candidate, MEM 3454, for neurological and psychiatric disorders. This decision triggers a $6 million milestone payment and entitles Memory to future payments upon the achievement of additional milestones and royalties on product sales, including a $17 million milestone payment for completion of the ongoing Phase IIa study in cognitive impairment associated with sc...