Genome Therapeutics Corp. received $1 million for reaching amilestone in its collaboration with Schering-Plough Corp., the thirdmilestone reached since they began working together in December1995.
Milestones of $1.75 million and $1 million were reached in May andMarch, respectively, in the collaboration to discover anti-infectiveagents effective against drug-resistant bacteria. Specific terms andtargets in the $43.5 million collaboration have not been disclosed.
Gerald Vovis, senior vice president, pathogen research, for GenomeTherapeutics, said the milestones all were related to research. "Wecan say given the pace at which they are coming it's pretty clearwe're on track in the research plan the companies worked out forachieving the goal," he said.
Genome Therapeutics is working to identify novel bacterial genetargets and develop assays that Schering-Plough can use to screennatural product and compound libraries to identify antibiotics withnew mechanisms of action. When the deal was announced GenomeTherapeutics said it expected to receive between $6 million and $10million in license fees, research payments and milestones in the firstyear. (See BioWorld Today, Dec. 8, 1995, p. 1.)
Some of the initial progress in the collaboration will be detailed nextweek in New Orleans through a poster presentation at the 36th annualInterscience Conference on Antimicrobial Agents and Chemotherapy._ Jim Shrine
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