Arena Pharmaceuticals, Inc. initiates a phase 2 clinical trial of MK-0354, an Arena discovered orally administered drug candidate under development by Merck for the treatment of atherosclerosis and related disorders. The phase 2 clinical trial triggers a $4 million milestone payment to Arena under the research collaboration and license agreement for compounds targeting a G protein-coupled receptor, or GPCR, that have the potential to regulate plasma lipid profiles, including HDL, or the "good" cholesterol, similar to the therapeutic action of niacin.

The phase 2 clinical trial is a randomized, double-blind, placebo-controlled study that will further evaluate safety, tolerability and pharmacokinetics, as well as potential efficacy, of MK-0354 in patients with dyslipidemia.

"We are pleased with Merck's decision to advance MK-0354," said Jack Lief, president and CEO of Arena. "We look forward to the phase 2 results and to the continued advancement of this program," he added.

"Merck is pleased with the progress of this program to date," Kathleen Metters, Senior VP, basic research, Merck Research Laboratories said adding, "This is another example of Merck's commitment to rapidly develop novel therapies for the treatment of atherosclerosis."