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news.Pharmacopeia has said that Schering-Plough has initiated a Phase I clinical trial in the US with a compound jointly identified by the two companies as a potential treatment for respiratory disease.
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Pharmacopeia will receive a $1 million milestone payment from Schering-Plough as a result of this trial initiation.
Les Browne, president and CEO of Pharmacopeia, said: “The Schering-Plough collaboration continues to yield very attractive therapeutic candidates. This compound is the third drug candidate resulting from the collaboration that has been advanced by Schering-Plough in clinical trials this year.”
Schering-Plough is responsible for further development and commercialization of this respiratory 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.