Under the terms of the collaboration, the selection of the compound triggers a milestone payment to Pharmacopeia.
“Schering-Plough’s advancement of this compound further expands our already significant development-stage product pipeline,” said Dr Les Browne, president and CEO of Pharmacopeia. “By targeting the significant needs of respiratory disease patients, this compound adds another high potential development candidate to our pipeline.”
Pharmacopeia and Schering-Plough have been collaborating on the discovery of novel compounds, for further R&D by Schering-Plough, since 1994. This respiratory disease compound is the latest in a series of drug candidates jointly discovered by the collaboration that are currently in development.
Presently, Schering-Plough is investigating a CXCR2 antagonist from the collaboration in phase I clinical trials targeting chronic obstructive pulmonary disease (COPD).
Pharmacopeia is eligible to receive milestone payments related to successful advancement of compounds and future royalties on sales of resulting products.