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12:00 AM
Mar 25, 2002
 |  BioCentury  |  Strategy

Schering regenerates with Collateral

Schering AG already had access to Collateral Therapeutics Inc.'s lead compounds, Generx and Genvascor for cardiovascular disease, through a 1996 collaboration. But the pharma company is aiming to build a franchise in regenerative medicine, and last week acquired the U.S. company in order to have more control.

Generx (AdFGF-4) is in Phase IIb/III trials to treat stable exertional angina and Genvascor (Ad5.1FGF-4) is in Phase I trials in peripheral vascular disease.

"The Collateral acquisition makes development and marketing planning much easier," said Oliver Renner, a spokesperson for Schering (FSE:SCH; SHR, Berlin, Germany). SHR bought the remaining 88% of CLTX that it didn't own for $140 million in SHR ADRs.

SHR's four core businesses are fertility control and hormone therapy, specialized therapeutics, diagnostics and radiophar-maceuticals, and dermatology.

In specialized therapeutics "our strategy is to find specialized fields where we can become worldwide market leaders," Renner said. "We're currently market leaders in birth control and in MRI imaging agents. Now, we see a chance to make a major contribution in the area of regenerative medicine, but of course there's still a way to go with Generx."

Generx is an adenoviral vector...

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