July 8 (Reuters) - Skyhawk Therapeutics:
* SKYHAWK THERAPEUTICS ANNOUNCES COLLABORATION AGREEMENT WITH MERCK TO DISCOVER AND DEVELOP NOVEL SMALL MOLECULES THAT MODULATE RNA SPLICING
* SKYHAWK SAYS IS ELIGIBLE TO RECEIVE APPROXIMATELY $600 MILLION PER PROGRAM TARGET
* SKYHAWK SAYS WILL RECEIVE AN UPFRONT CASH PAYMENT AND, TO EXTENT MERCK EXERCISES ITS OPTION, POTENTIAL MILESTONE PAYMENTS & ROYALTIES
* SKYHAWK SAYS FOLLOWING MERCK'S EXERCISE OF ITS OPTION, MERCK WILL BE RESPONSIBLE FOR FURTHER DEVELOPMENT & COMMERCIALIZATION
* SKYHAWK - WILL GRANT MERCK OPTION TO LICENSE WORLDWIDE INTELLECTUAL PROPERTY RIGHTS TO CANDIDATES DISCOVERED, DEVELOPED IN COLLABORATION DIRECTED TO PROGRAM TARGETS