Jerini AG, a pharmaceutical company headquartered in Berlin, announced that it is expanding its existing research collaboration with Baxter AG. The two pharmaceutical companies, which have been working on the development of a nonintravenous treatment for hemophilia patients, will develop two research programs aimed at novel approaches to creating new therapies. Their original partnership began in 2001 and was first expanded in 2004.
“We are very pleased with the successful progress in our collaboration with Baxter and their decision to expand this alliance.“ said Jens Schneider-Mergener, chief executive officer at Jerini AG. “Our proprietary Peptides-to-Drugs (P2D) technology platform offers a novel and highly effective approach in the development of a new therapeutic peptide-derived injectable and oral compounds.”
As part of the agreement, Jerini AG will receive upfront payments and funding for each of the two new programs. It will also have the potential for milestone payments if achievement of certain discovery and clinical goals are met, along with royalties on eventual product sales.
Source: Jerini AG news release dated February 6, 2007