Bayer To Develop Cancer Treatment With Amgen

Date : 04/24/2012 @ 8:29AM
Source : Dow Jones News
Stock : Amgen Inc. (MM) (AMGN)
Quote : 175.89  0.0 (0.00%) @ 4:06AM

Bayer To Develop Cancer Treatment With Amgen

Amgen Inc. (MM) (NASDAQ:AMGN)
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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.

-In 2009, Bayer had entered into an agreement with Micromet, Inc. to produce another antibody.

-Micromet was acquired by Amgen in early 2012.

 
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500 
 

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