Schering-Plough and NeoGenesis Announce Research Collaboration To Discover Small-Molecule Drugs
KENILWORTH, N.J. and CAMBRIDGE, Mass., Aug. 6 /PRNewswire/ -- Schering-Plough Corporation (NYSE: SGP - news) and NeoGenesis Drug Discovery, Inc. today announced a multi-year, multi-target research collaboration to discover small-molecule drug candidates. This alliance will draw upon NeoGenesis' innovative drug discovery technologies and Schering-Plough's expertise in experimental biology, pre-clinical research and clinical development of novel drug candidates.
The companies entered into this new collaboration based on NeoGenesis' previous success in working with Schering-Plough to identify antiviral drug leads.
Under terms of the agreement, Schering-Plough will make an equity investment in NeoGenesis and will provide research and development funding, which may extend over a period of up to five years. NeoGenesis expects to receive license fees as well as payments upon the achievement of certain defined clinical and regulatory milestones. In addition, NeoGenesis will receive royalties on any commercial sales of products resulting from the collaboration.
``We are very pleased to enter into this collaboration with Schering-Plough,'' said Satish Jindal, Ph.D., president and chief scientific officer of NeoGenesis. ``We expect our unique screening technology to yield high-quality leads to a variety of targets provided by Schering-Plough. This partnership further validates NeoGenesis as an industry leader in drug discovery technologies.''... |
