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Biotech / Medical : Ciphergen Biosystems(CIPH):
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From: nigel bates6/27/2005 9:39:59 AM
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Ciphergen Announces Biomarker Research Collaboration With Bayer Pharmaceuticals Corporation
Monday June 27, 9:00 am ET
Research to Concentrate on Biomarkers Predictive of Response to Cancer Therapy

FREMONT, Calif., June 27 /PRNewswire-FirstCall/ -- Ciphergen Biosystems, Inc. (Nasdaq: CIPH - News) announced today that it has signed a collaboration agreement with Bayer Pharmaceuticals Corporation*. The research will concentrate on identifying biomarkers and developing an assay that may be used in a clinical trial in cancer. Under terms of the agreement, Ciphergen will analyze patient samples from Phase II trials at Ciphergen's Pharmaceutical Biomarker Discovery Center® laboratory in Malvern, Pennsylvania using its proprietary SELDI-TOF-MS platform and a novel method for enriching low-abundance proteins in biological fluids. Ciphergen and Bayer will collaborate in the statistical analysis of the data to identify biomarkers predictive of response to a Bayer compound in development. Financial terms were not disclosed but include upfront fees and milestone payments.

"This agreement expands our business initiative at Ciphergen to form collaborations with pharmaceutical companies to accelerate and streamline clinical development of new drugs through the identification of important biomarkers of drug response," stated William E. Rich, President and CEO of Ciphergen. "The relationship with Bayer allows them to access the most advanced elements of our proteomic biomarker discovery platform with the goal of converting this research into a clinical assay that can potentially be used in upcoming efficacy trials."....
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