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In a prepared statement, Schering Plough said the deal reflects its goal to obtain half its drug products from other companies.
David Perry, Anacor's chief executive, said the deal will greatly help Anacor, which was founded in 2002 and has no approved products yet.
Last month, Amgen of Thousand Oaks in Southern California agreed to a deal worth up to million to help develop heart failure treatments with Cytokinetics of South San Francisco. Since 2004, Amgen also has purchased three Bay Area companies Avidia of Mountain View, Abgenix of Fremont and Tularik of South San Francisco for a total of billion.
million for its toe fungus treatment.
by Mountain View based ChemoCentryx for bowel and inflammatory disorders.
Perry declined to reveal the company's annual revenue, but said it has about 30 employees. Schering Plough, which has about 32,000 employees, reported a 2006 profit of billion on billion in sales.
"The money up front provides well over two years' worth of cash for us," he said.
AN2690 is aimed at individuals suffering from onychomycosis, a fungal ailment common in toenails, which causes the nails to thicken and become discolored.
And in August, GlaxoSmithKline of London announced it would pay up to billion for the rights to treatments being developed Buy Gucci Belt
Schering Plough also agreed to pay Anacor about million more if Anacor meets certain goals in developing and commercializing the treatment, which is being evaluated in mid stage studies with people. Moreover, Anacor will receive double digit percentage royalty payments if government regulators approve the drug for sale.
Anacor sells fungus treatment
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The partnership is the latest of several instances Gucci Belt Gold Gg of small Bay Area biomedical businesses selling their experimental treatments or their entire operations to much larger drug manufacturers based elsewhere.
In the latest of several recent lucrative deals between Bay Area life science companies and major drugmakers, Anacor Pharmaceuticals of Palo Alto said Friday that Schering Plough has Gucci Belt For Men Price
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