Bayer Schering Pharma buys preclinical cancer program from Nycomed
Germany's Bayer Schering Pharma AG is expanding its oncology pipeline with the acquisition of a preclinical program from Danish drugmaker Nycomed. The agreement comprises two potential drug candidates and a set of back-up compounds targeting a kinase critical for growth and survival of cancer cells. Bayer Schering will assume full development and commercialization rights of the program after Nycomed decided to not invest further in oncology R&D activities. The Danish firm will receive an initial reward and payments upon completion of agreed preclinical and regulatory milestones that could total 52.0 million euros ($81.2 million). Cancer is one of four focus areas of Bayer Schering's research programs.
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