Schering-Plough initiated a Phase I evaluation of an anti-inflammatory compound identified in collaboration with Pharmacopeia. The company will thus receive a $1-million milestone payment from Schering-Plough.
"With four product candidates in clinical development, our collaboration with Schering-Plough is currently our most productive," comments Les Browne, Ph.D., president and CEO of Pharmacopeia.
Schering-Plough is solely responsible for further development and commercialization of the candidate. Pharmacopeia is eligible to receive additional milestone payments based on clinical advancement and royalties on sales of any resulting therapeutic products incorporating compounds derived from the program.