Bayer AG to Develop Cancer Treatment With Amgen

German chemical and pharmaceutical company Bayer AG (BAYN.XE) said Tuesday it has agreed with Amgen Inc. (AMGN) to develop and commercialize a new antibody for treating cancer. MAIN FACTS: -Financial details of the deal weren't disclosed. -Bayer will collaborate with Amgen at its Munich site from the research phase to the completion of initial clinical trials. -After the initial trials have been completed, Bayer will be responsible for further development and commercialization of the product candidate.