XOMA and Schering-Plough Establish Collaboration for Therapeutic Antibody Discovery and Development
Tuesday May 23, 9:23 am ET
BERKELEY, Calif.--(BUSINESS WIRE)--May 23, 2006--XOMA Ltd. (Nasdaq:XOMA - News) today announced the formation of a collaboration with Schering-Plough Corporation (NYSE:SGP - News), through its research and development arm, Schering-Plough Research Institute (SPRI), for therapeutic monoclonal antibody discovery and development. The collaboration is intended to capitalize on XOMA's comprehensive antibody discovery, development and production technologies and expertise. Under the agreement, Schering-Plough will make up-front and milestone payments to XOMA, fund XOMA's R&D activities related to the agreement, and pay royalties to XOMA on sales of products resulting from the collaboration. Additional financial terms were not disclosed.
Using its extensive collection of phage display libraries and optimization technologies, XOMA will discover therapeutic antibodies against one or more targets selected by SPRI. XOMA may also utilize its proprietary Human Engineering(TM) technology to humanize antibody candidates generated by hybridoma techniques. Other XOMA activities will include pre-clinical studies to support regulatory filings, cell line and process development, and production of antibodies for initial clinical trials.
"With our collective capabilities and expertise, we plan to accelerate the discovery and development of therapeutic antibodies that meet or exceed key medical and commercial design objectives," said John L. Castello, President, Chairman and Chief Executive Officer of XOMA. "We look forward to working together with Schering-Plough."... |
