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Millennium and Bayer Form World's Largest Drug Discovery Alliance In the Pharmaceutical Industry.
- Article from:
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PR Newswire
- Article date:
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September 23, 1998
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Copyright informationCOPYRIGHT 1998 PR Newswire Association, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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- Revolutionary Approach in Pharmaceuticals Research -
- A Production Line for Genomics-Based Drugs -
CAMBRIDGE, Mass., Sept. 23 /PRNewswire/ -- Millennium Pharmaceuticals, Inc. (Nasdaq: MLNM) and Bayer AG today announced the formation of an alliance, believed to be the largest to date, in the field of pharmaceutical drug discovery. In return for a total investment of up to $465 million, including approximately a 14 equity investment in Millennium, Bayer will receive access to key technologies in modern genome research and a flow of new genomics-based targets for drug development over a five-year period.
Together, Millennium and Bayer will pursue a new ...