Schering AG Licenses SEGRA Compound for Ophthalmic Use to Bausch & Lomb
18 September 2006 - 4:01PM
PR Newswire (US)
BERLIN and ROCHESTER, New York, September 18 /PRNewswire-FirstCall/
-- Schering AG, Germany (FSE: SCH; NYSE: SHR) and Bausch & Lomb
(NYSE:BOL) announced today that Schering has granted an exclusive
worldwide license to Bausch & Lomb to develop and market a
selective glucocorticoid receptor agonist (SEGRA) for the
non-systemic treatment of eye disorders. Bausch & Lomb will
evaluate the compound's potential as a novel anti-inflammatory
medication with an improved safety profile in ophthalmological
indications. Today, glucocorticoids are the most potent and most
frequently used anti-inflammatory compounds, but their value is
limited by side effects such as glaucoma induction. SEGRAs, using a
distinct molecular mechanism after binding to a glucocorticoid
receptor, may demonstrate a superior effect/side effect profile
when compared to standard glucocorticoids. "The collaboration with
Bausch & Lomb is an excellent opportunity for us to broadly
explore the potential of SEGRAs and capitalize on the full value of
these compounds," said Dr. Khusru Asadullah, Head of Inflammation
Research at Schering AG. "Our agreement with Schering, a
pre-eminent name in the development and commercialization of
pharmaceuticals, is yet another example of how we at Bausch &
Lomb are actively pursuing unique compounds and creative
therapeutic approaches in order to expand our pipeline of new
products to help people with vision-threatening ophthalmic
conditions," said Praveen Tyle, Ph.D., Bausch & Lomb Chief
Scientific Officer and Senior Vice President - Global Research and
Development. "We believe that the SEGRA technology is a natural fit
with Bausch & Lomb's ocular anti-inflammatory expertise, and
would strategically complement our portfolio of proprietary
loteprednol-based anti-inflammatory products, Lotemax(R), Alrex(R)
and Zylet(R)." Under the terms of the agreement, Bausch & Lomb
is responsible for development of the SEGRA compound for
non-systemic use in ophthalmology. Bausch & Lomb will make
upfront and milestone payments based on the development and
registration progress, and pay ongoing royalties based on product
sales. Further details of the agreement were not disclosed. 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. 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 It is
planned that Schering AG will be renamed Bayer Schering Pharma
Aktiengesellschaft. A corresponding resolution was passed at the
Extraordinary General Meeting of Schering AG on September 13, 2006.
Until the name change has been registered in the commercial
register, the company will continue to operate under the name
Schering AG. According to the resolution of the General Meeting,
the Executive Board will not file an application for registration
before December 1, 2006. Find additional information at:
http://www.schering.de/eng About Bausch & Lomb Bausch &
Lomb is the eye health company, dedicated to perfecting vision and
enhancing life for consumers around the world. Its core businesses
include soft and rigid gas permeable contact lenses and lens care
products, and ophthalmic surgical and pharmaceutical products. The
Bausch & Lomb name is one of the best known and most respected
healthcare brands in the world. Founded in 1853, the Company is
headquartered in Rochester, New York. Bausch & Lomb's 2004
revenues were $2.2 billion; it employs approximately 13,700 people
worldwide and its products are available in more than 100
countries. More information about the Company can be found on the
Bausch & Lomb Web site at http://www.bausch.com/. This press
release has been published by Corporate Communication of Schering
AG, Berlin, Germany. Forward-Looking Statements 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, Investor
Relations: Peter Vogt, T: +49-30-468-128-38, Your contacts at
Bausch & Lomb: Media Relations: Margaret Graham, T.:
+1-585-338-5469, Investor Relations: Daniel L. Ritz, T.:
+1-585-338-5802, DATASOURCE: Schering AG CONTACT: Your contacts at
Schering AG: Media Relations: Oliver Renner, T: +49-30-468-124-31,
. Investor Relations: Peter Vogt, T: +49-30-468-128-38, . Your
contacts at Bausch & Lomb: Media Relations: Margaret Graham,
T.: +1-585-338-5469, . Investor Relations: Daniel L. Ritz, T.:
+1-585-338-5802,
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