S-P selects another Pharmacopeia drug

US small-molecule specialist drugmaker Pharmacopeia says that a compound identified through its collaboration with drug major Schering-Plough has been selected by the latter for preclinical development, triggering a $1.0 million milestone payment.

"This novel compound and its promising attributes were the basis for the extension of our collaboration with Schering-Plough last fall," said Les Browne, chief executive of Pharmacopeia. "Schering-Plough has been a valued collaborator for more than a decade, and we are proud of the extensive pipeline that this partnership has generated. We are hopeful that each of the four clinical and three preclinical programs currently in development from this collaboration will continue to advance in the coming years."

Schering-Plough is solely responsible for further development and commercialization of these candidates. However, Pharmacopeia is eligible to receive additional milestone payments related to the successful advancement of the drug candidates, and will also receive royalties on sales of any therapeutic products resulting from these programs.