Schering-Plough invests $70 mil. in Neurogen's dopamine antagonist R&D for psychiatric disorders.
SCHERING-PLOUGH/NEUROGEN $70 MIL. COLLABORATION ON ANTI-PSYCHOTICS includes an upfront cash payment of $17 mil., research funding for up to five years, and milestone payments in exchange for exclusive worldwide rights to market products emerging from the collaboration. Subject to approval by Schering's board of directors, the collaboration covers the development of drugs that selectively bind to dopamine receptor subtypes. The selective binding could create products with fewer side effects than currently available dopamine receptor antagonists such as Clozaril (clozapine).
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