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Bayer enters agreement with Celera
Bayer Schering Pharma AG, Germany, has entered into an exclusive licence agreement with US biotech company Celera Corporation. Bayer will pay Celera a one-off fee for exclusive access to five cancer target molecules and additional payments for particular development and commercial milestones. Celera will also receive royalties based on net sales of commercialised products.
"We look forward to exploring the full potential of these promising target candidates with regard to therapeutic interference for anti-tumour therapy as well as in in-vivo diagnostic imaging", said Professor Khusru Asadullah head of target discovery at Bayer Schering Pharma.
Celera Genomics was founded in 1988 with the aim of sequencing and assembling the human genome. It was acquired by Applera Corporation but separated from that company and started trading on Nasdaq in July 2008. It recently moved its base from Maryland Washington, to Alameda, California and is now focused on developing personalised diagnostics and medicines. Steve Ruben, vice president of proteomic research at the company, said: "This agreement combines the strength of our novel proteomics target discovery platform with Bayer Schering Pharma's expertise in research and development."
Published: 30/06/2009
Content Area: Pharmaceutical industry articlesArticle type: Healthcare news
