Pharmacopeia, Cranbury, NJ, will receive a $1 million milestone payment from Schering-Plough to research PS948115, a compound identified through the collaboration between the two companies as a potential treatment for COPD and inflammatory disease and now in Phase I clinical trials.
“This compound is the third drug candidate resulting from the collaboration that has been advanced by Schering-Plough in clinical trials this year,” said Les Browne, PhD, president and CEO of Pharmacopeia.
Schering-Plough, a New Jersey-based pharmaceutical company best known for antihistamine drugs such as Clairitin, is solely responsible for further development and commercialization of this respiratory disease candidate.
Still, Pharmacopeia is eligible to receive additional milestone payments if the program advances further in clinical trials, and will also receive royalties on sales of any resulting therapeutic products incorporating compounds derived from the program.
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