Bayer Schering Pharma Extends Research Portfolio in the Field of Cancer-Related Targets
License Agreement with Celera Corporation on five cancer target molecules
Under the terms of the agreement, Bayer Schering Pharma will pay Celera a one-time fee for the exclusive access to the five targets. Additional payments are due upon achievement of certain development and commercial milestones. Further, upon commercialization of a product Celera is entitled to royalties based on net sales of a product.
“This agreement allows us to expand our existing research portfolio in the area of cancer-related targets,” said Prof. Khusru Asadullah, MD, Head of Target Discovery at Bayer Schering Pharma. “We look forward to exploring the full potential of these promising target candidates with regard to therapeutic interference for anti-tumor therapy as well as in in-vivo diagnostic imaging.”
“This agreement combines the strength of our novel proteomics target discovery platform with Bayer Schering Pharma’s expertise in research and development,” said Steve Ruben, Ph.D., vice president of proteomic research at Celera. “We believe this new relationship with Bayer Schering Pharma allows us the flexibility to advance part of our broad pipeline of validated targets for additional future value.”
Celera is a healthcare business delivering personalized disease management through a combination of products and services incorporating proprietary discoveries. Berkeley HeartLab, a subsidiary of Celera, offers services to predict cardiovascular disease risk and improve patient management. Celera also commercializes a wide range of molecular diagnostic products through Abbott and has licensed other relevant diagnostic technologies developed to provide personalized disease management in cancer and liver diseases. Information about Celera Corporation, including reports and other information filed by the company with the Securities and Exchange Commission, is available at http://www.celera.com.
About Bayer HealthCare
The Bayer Group is a global enterprise with core competencies in the fields of health care, nutrition and high-tech materials. Bayer HealthCare, a subsidiary of Bayer AG, is one of the world’s leading, innovative companies in the healthcare and medical products industry and is based in Leverkusen, Germany. The company combines the global activities of the Animal Health, Bayer Schering Pharma, Consumer Care and Medical Care divisions. Bayer HealthCare’s aim is to discover and manufacture products that will improve human and animal health worldwide. Find more information at www.bayerhealthcare.com.
Bayer Schering Pharma is a worldwide leading specialty pharmaceutical company. Its research and business activities are focused on the following areas: Diagnostic Imaging, General Medicine, Specialty Medicine and Women's Healthcare. With innovative products, Bayer Schering Pharma aims for leading positions in specialized markets worldwide. Using new ideas, Bayer Schering Pharma aims to make a contribution to medical progress and strives to improve the quality of life. Find more information at www.bayerscheringpharma.de.
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer Group or subgroup management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
|Address:||Bayer Schering Pharma AG
|Telephone:||+49 (0) 30/468-193183|
|Telefax:||+49 (0) 30/468-16710|
Posted: June 2009