Symbolics in $16-Million Merrill Lynch R & D Pact

Symbolics, an artificial intelligence firm, said it reached a $16-million research and development agreement with Merrill Lynch Technology Ventures for developing computer systems.

The deal calls for Symbolics, which is based in Concord, Mass., to contribute up to $9 million to the project over the next several years and for the Merrill Lynch unit to provide the rest of the financing.

Under the agreement, Symbolics will have the right to buy the technology that is developed once the project is finished. Its partner will be entitled to a lump payment or a percentage of the revenue generated through sales of the equipment.

In addition, Symbolics said, the Merrill Lynch unit bought warrants that will enable it to buy 390,000 shares of Symbolics stock at a set price.

All of Symbolics’ products are manufactured in Chatsworth.