Bayer Schering Signs License Agreement With Celera

Bayer Schering Pharma (Bayer Schering) has signed a license agreement with Celera, which provides Bayer Schering with access to five cancer-related targets for therapeutic development and in-vivo diagnostic imaging.

Under the terms of the agreement, Bayer Schering would 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 the product’s net sales.

Prof. Khusru Asadullah, Head of Target Discovery, Bayer Schering, said: “This agreement allows us to expand our existing research portfolio in the area of cancer-related targets.”

“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,” he added.

Steve Ruben, Vice President of proteomic research, Celera, said: “This agreement combines the strength of our novel proteomics target discovery platform with Bayer Schering Pharma’s expertise in research and development. 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.”