ROCHESTER, N.Y., Feb. 10 /PRNewswire/ -- Vaccinex, Inc. announced today that it has entered into a research collaboration with Schering AG to identify disease targets and potentially develop novel therapeutic antibodies for the treatment of certain cancers. Vaccinex will receive a technology access fee and research funding and is eligible for milestone payments and royalties. Following the initial research phase, Vaccinex may receive certain options to co-develop a selected cancer product with Schering AG. Financial details were not disclosed.
Dr. Maurice Zauderer, President and CEO of Vaccinex commented, "We are very excited about applying our proprietary technologies to validate several of Schering AG's oncology targets as well as to have an opportunity to collaborate in co-developing a promising cancer product. We are especially pleased to be working together with an accomplished pharmaceutical partner like Schering on the discovery and development of new and innovative treatments for cancer and other diseases."
About Vaccinex, Inc.
Vaccinex is a privately held biotechnology company engaged in the discovery and development of novel therapeutic antibodies. Using its proprietary vaccinia vector technology, Vaccinex has developed a unique library-based discovery platform capable of identifying novel antigens and of selecting fully human monoclonal antibodies against disease targets. Vaccinex utilizes its ActivMAb technology to directly generate fully functional antibodies against difficult targets such as homologous proteins and multi-pass membrane receptors. Vaccinex's technology can also be used to fully humanize mouse and other non-human antibodies. The firm is headquartered in Rochester, NY and currently has 48 employees. For more information visit http://www.vaccinex.com.
CONTACT: Shaun Martin, Ph.D., Director of Business Development,+1-585-271-2700 ext. 123, firstname.lastname@example.org, or R. Stan Holland, ChiefFinancial Officer, +1-585-271-2700 ext. 102, email@example.com, both ofVaccinex, Inc.