Alder Biopharmaceuticals Announces Expanded Collaboration With Schering-Plough
Therapeutic Monoclonal Antibodies Generated From Antibody Identification & Production Technologies Selected as Lead Candidates
BOTHELL, Wash.--(BUSINESS WIRE)--Jun 8, 2009 - Alder Biopharmaceuticals, Inc., an emerging antibody therapeutics company, today announced the expansion of its collaborative alliance with leading pharmaceutical company Schering-Plough Corporation (NYSE: SGP). The collaboration continues to be successful in identifying numerous high quality therapeutic monoclonal antibody lead candidates.
Candidates with potential applications to Central Nervous System (CNS) disorders are being identified through the application of Alder's innovative high throughput antibody selection (ABS) system and yeast production system (Mab Xpress). These technologies are designed to identify and produce best-in-class antibodies rapidly and cost effectively.
Under terms of the agreement, Alder will receive an upfront payment, committed funding for Alder personnel who are engaged in the project and milestone payments associated with the advancement of a therapeutic candidate as well as future product royalties.
“This expanded collaboration further validates the promise and potential of Alder's leading capabilities to expeditiously identify and manufacture therapeutic monoclonal antibodies,” said Randall Schatzman, Ph.D., Chief Executive Officer of Alder. “We look forward to the continued and expanded partnership with Schering Plough, a leader in therapeutic antibody development and commercialization. More broadly, we are pleased to be positively impacting the way in which companies discover and manufacture biotherapeutics.”
Alder's technology is designed to reduce development cycles and provide an inexpensive and rapid route through product manufacturing. At a time when the healthcare industry is facing large pressures on R&D spending, Alder is providing a solution that allows biopharmaceutical companies to develop novel antibody-based therapies faster, and deliver them to the clinic and patients at a significantly improved rate.
About Alder Biopharmaceuticals
Alder Biopharmaceuticals, Inc. uniquely identifies, develops, and manufactures novel antibody therapeutics to alleviate human suffering in the autoimmune and inflammatory disease areas. Alder's management team combines decades of industry experience with a proven track record for identifying and developing novel antibody therapeutics. Today the company is actively engaged in developing its own proprietary therapeutics and enabling partners through the out-licensing of its technologies. Current partners include Schering-Plough, Seattle Genetics, Genmab, and two non-disclosed large pharmaceutical companies. For more information, visit www.alderbio.com.
Contact: Alder Biopharmaceuticals Inc.
Media and Industry Inquiries:
Mark Litton, Ph.D., 425-205-2920
Chief Business Officer
Randall Schatzman, Ph.D., 425-205-2910
Posted: June 2009