Alder Biopharmaceuticals Forms Collaboration with Schering-Plough
News Dec 05, 2005
Alder Biopharmaceuticals Inc. has announced a broad collaborative alliance with Schering-Plough. The collaboration will use Alder's proprietary yeast production system and high throughput antibody selection system to identify and produce antibodies.
Under terms of the agreement, Alder will work on up to ten Schering-Plough antibody products.
Schering-Plough will provide either the antibody sequence or the antigen and Alder will provide a proprietary antibody expressing strain or, in the case of the selection system, both the antibody and the strain.
For each of the ten therapeutic products developed under the alliance, Alder is eligible to receive milestone payments related to successful advancement, research support, and future royalties on sales of resulting products.
"We are excited by the formation of this alliance with one of the leading companies in the antibody therapeutics space. This further validates the vast potential of Alder's proprietary antibody technologies," said Dr. Randall Schatzman, President and CEO of Alder.
"This is a major achievement for Alder so soon after the closing of our first financing."
"We believe this alliance will be a model for how Alder can positively impact other companies that are looking for solutions to their antibody manufacturing challenges and ways to identify antibodies where traditional methods have failed."
Alder's contribution to the field involves a platform of proprietary antibody technologies that industrializes the approach to developing, selecting and manufacturing antibody therapeutics.