REDWOOD CITY, Calif., June 17 /PRNewswire/ -- OncoMed Pharmaceuticals, Inc. and Bayer Schering Pharma AG, Germany, today announced a global strategic alliance to discover, develop and commercialize novel anti-cancer stem cell therapeutics targeting the Wnt signaling pathway. Cancer stem cells are a subset of tumor cells believed to play a significant role in the establishment, metastasis and recurrence of cancer.
The strategic alliance leverages OncoMed's leadership in cancer stem cell drug discovery and development. Under the terms of the agreement, Bayer and OncoMed will develop antibodies, protein therapeutics, and small molecules as potential novel anti-cancer stem cell therapeutics targeting the Wnt signaling pathway. In addition to an upfront cash payment of $40 million, OncoMed is eligible to receive cash payments for product candidates that Bayer Schering Pharma options and possible additional payments upon achievement of certain development and commercialization milestones described below. The collaboration could potentially include up to five compounds. The agreement includes potential significant near-term milestone payments from Bayer.
OncoMed will utilize its proprietary human cancer stem cell models to discover and advance antibody and protein therapeutics through Phase I clinical studies. Bayer Schering Pharma receives an option to exclusively license antibody and protein therapeutic product candidates at any point up to the completion of Phase I testing. Following option exercise, Bayer will lead development and commercialization of licensed product candidates. For each biotherapeutic drug candidate successfully developed through Phase III clinical trials and regulatory approval, OncoMed's payments
|SOURCE OncoMed Pharmaceuticals, Inc.|
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