Prometheus and Bayer cooperate on accelerating oncology drug development, in deal with up to $160 million

San Diego, USA-based drug and diagnostics firm Prometheus Laboratories has entered a research collaboration and license agreement with German drug major Bayer Schering Pharma, partnering its proprietary oncology diagnostic platform with Bayer's broad oncology pipeline in an effort to stratify patients to appropriate drug candidates and potentially accelerate the development of novel oncology therapeutic products.

Under the terms of the non-exclusive accord, Prometheus will receive an upfront payment, R&D support and testing fees, and potential additional payments on the achievement of certain development milestones. Prometheus will be eligible for upfront and milestone payments up to $160 million if all drug candidates are successfully developed and obtain regulatory approval.

"A functional pathway analysis based on Prometheus' proprietary oncology diagnostic platform could allow for a comprehensive analysis of the tumor, patient stratification and efficacy predictability of individual targeted cancer therapeutics as well as most effective treatment combinations," said Andreas Busch, head of global drug discovery and member of Bayer Schering's Board of Management. "Developing such a diagnostic tool constitutes a significant step towards personalized medicine in cancer treatment and we are convinced this will increasingly become the standard of clinical care in oncology," he noted.