Corvas regulatory update

Schering made a $5 million equity investment, purchasing 1 million shares of preferred stock in the San Diego company. In addition, Schering has paid an undisclosed licensing fee, and will pay research support and milestone payments that could total $80 million.

Schering will be responsible for certain preclinical development and all clinical trials, as well as regulatory activities, and will receive exclusive worldwide manufacturing and marketing rights. ...