Schering AG, Germany (NYSE: SHR) and AstraZeneca (NYSE: AZN, LON: AZN) joined forces to co-develop and jointly commercialize Schering AG's novel SERD.
The selective estrogen receptor downregulators (SERDs) are a new class of compounds that 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.
The terms of agreement include:
However, financial terms of the deal were not disclosed.
Find more details from the press releases at Schering AG and AstraZeneca.
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