BERLIN A U.S. company has entered an agreement with Bayer’s pharmaceutical division to develop cancer drugs.
Bayer Schering Pharma announced that it entered into an exclusive license agreement with Celera Corp., gaining access to five of Celera’s investigative cancer drugs.
Under the terms of the agreement, Bayer will pay Celera a one-time fee for exclusive access to the drugs, as well as potential milestone payments. Celera also is entitled to royalties on any products that reach the market.
“This agreement allows us to expand our existing research portfolio in the area of cancer-related targets,” Bayer Schering Pharma target discovery head Khusru Asadullah stated. “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.”