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Bayer AG

Drug Names(s): CRA-028129

Description: CRA-028129 inhibits cathepsin S, which plays a role in the presentation of antigens for an immune response.

Deal Structure: In June 2006, Schering AG acquired the CRA-028129 program. The financial terms of the transaction include an upfront cash payment of $5 million. If this program meets all developmental and commercial milestone events and results in drugs that are approved and commercialized in key geographical markets, it may generate future milestone payments to Celera of up to $360 million. In addition, Celera will be entitled to percentage royalty payments up to the low double digits based on annual sales of any drugs commercialized from the program.

Later in 2006, Bayer acquired Schering AG.

In March 2011, Quest Diagnostics announced that they have entered into a definitive merger agreement under which Quest Diagnostics will acquire Celera for $8 per share. In May 2011, Quest Diagnostics announced the successful completion of its acquisition of Celera Corporation.

Partners: Quest Diagnostics Incorporated

CRA-028129 News

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