BERLIN, September 15 /PRNewswire-FirstCall/ -- Schering AG, Germany (FSE: SCH, NYSE: SHR) and AstraZeneca have formed an alliance to co-develop and jointly commercialize Schering AG’s novel SERD. Under the terms of the agreement, the companies will jointly develop the novel SERD with AstraZeneca leading the clinical development and Schering leading the non-clinical and process development as well as manufacturing activities. The companies will co-promote the product in the major territories. All development and commercialization costs and global profits will be shared equally. Financial terms of the deal were not disclosed.
“The development of agents that selectively down regulate the estrogen receptor is an exciting and important advance in the treatment of breast cancer. This novel SERD has the potential to offer a specific and targeted therapy approach for women with breast cancer,” said Peter Zundorf, Head of Schering Group’s Oncology Global Business Unit. “We look forward to the collaboration with AstraZeneca. This collaboration reinforces our strong commitment to oncology. It is our intent to fully exploit this innovative compound and to maximize its value with joint forces.”
John Patterson, Executive Vice President, Development of AstraZeneca, said, “This agreement further strengthens AstraZeneca’s pipeline and builds on AstraZeneca’s leading position in the anti-hormonal disease area. The novel SERD has the potential to deliver significant benefit to patients with estrogen-dependent cancers: the lead indication will be breast cancer. We are delighted to be working with Schering and will build upon our existing excellent relationship through collaboration in the area of anti-inflammatory research.”
About SERDs
The growth and progression of many breast cancers are stimulated by the steroid hormone, estrogen. It has been known for many years that the actions of this hormone are mediated by estrogen receptors (ER) that are present in breast cancer cells and the signaling pathways initiated by the ER are some of the best understood in oncology. There are several existing targeted approaches that either inhibit the action of the ER or prevent the synthesis of estrogen. However, resistance to anti-hormonal treatment is a major problem in the treatment of breast cancer and most advanced tumors eventually become resistant to this type of therapy. The selective estrogen receptor downregulators (SERDs) such as the novel SERD, which is in preclinical development, are a new class of compounds with a novel mechanism of action. They increase the rate at which the ER protein is degraded which reduces the amount of ER available to interact with other intracellular signalling pathways known to be involved in resistance to hormone treatment. The SERDs can potentially be used as monotherapy for treatment of all stages of hormone-sensitive breast cancer or in combination with other targeted agents for the prevention and/or treatment of hormone resistant disease.
About Schering AG
Schering AG is a research-based pharmaceutical company. Its activities are focused on four business areas: Gynecology&Andrology, Oncology, Diagnostic Imaging as well as Specialized Therapeutics for disabling diseases. As a global player with innovative products, Schering AG aims for leading positions in specialized markets worldwide. With in-house R&D and supported by an excellent global network of external partners, Schering AG is securing a promising product pipeline. In Oncology, Schering AG maintains a prominent leadership position by offering a range of hematological and solid tumor treatments. Schering AG is strongly invested in bringing to market an innovative and broad oncology R&D portfolio of systemic and targeted therapies, potentially offering novel therapeutic options for people with cancer. Using new ideas, Schering AG aims to make a recognized contribution to medical progress and strives to improve the quality of life: making medicine work
Find additional information at: www.schering.de/eng
About AstraZeneca
AstraZeneca is a major international healthcare business engaged in the research, development, manufacture and marketing of prescription pharmaceuticals and the supply of healthcare services. It is one of the world’s leading pharmaceutical companies with healthcare sales of $23.95 billion and leading positions in sales of gastrointestinal, cardiovascular, neuroscience, respiratory, oncology and infection products. AstraZeneca is listed in the Dow Jones Sustainability Index (Global) as well as the FTSE4Good Index.
This press release has been published by Corporate Communication of Schering AG, Berlin, Germany.
Certain statements in this press release that are neither reported financial results nor other historical information are forward-looking statements, including but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results and Schering AG’s plans and objectives to differ materially from those expressed or implied in the forward-looking statements. Certain factors that may cause such differences are discussed in our Form 20-F and Form 6-K reports filed with the U.S. Securities and Exchange Commission. Schering AG undertakes no obligation to update publicly or revise any of these forward-looking statements, whether to reflect new information or future events or circumstances or otherwise.
Your contacts at Schering AG: Media Relations: Oliver Renner, T: +49-30-468-124-31, oliver.renner@schering.de
Investor Relations: Peter Vogt, T: +49-30-468-128-38, peter.vogt@schering.de
Pharma Communication: Astrid Kranz, T: +49-30-468-120-57, astrid.kranz@schering.de
Your contacts at AstraZeneca: Media Enquiries: Edel McCaffrey, Tel: +44-207-304-5034 Media Enquiries: Steve Brown, Tel: +44-207-304-5033
Source: Schering AG
