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news.Pharmacopeia has earned a $1 million milestone payment, after Schering-Plough initiated a phase I trial with an inflammatory disease compound identified from the companies' collaboration.
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Schering-Plough is solely responsible for further development and commercialization of this inflammatory disease candidate. However, Pharmacopeia is eligible to receive additional milestone payments if the program advances further in clinical trials, and will also receive royalties on sales of any resulting therapeutic products incorporating compounds derived from the program.
“With four product candidates in clinical development, our collaboration with Schering-Plough is currently our most productive,” said Les Browne, president and CEO of Pharmacopeia.