Healthcare Industry News: Parkinson's Disease
News Release - January 19, 2007
Bayer Schering Pharma to Develop New Imaging Compounds for Detection of Neurodegenerative DiseasesBERLIN, Germany, January 19 (HSMN NewsFeed) -- Bayer Schering Pharma AG (NYSE: SHR ) has signed a license and option agreement with Taisho Pharmaceutical Co., Ltd., Nihon Nohyaku Co., Ltd., and the National Institute of Radiological Sciences (NIRS), Japan, to develop novel imaging compounds for the detection of neurodegenerative diseases such as Alzheimer's disease, Parkinson's Disease and other disorders also associated with neuroinflammation such as multiple sclerosis.
"We are convinced that innovations in molecular imaging have the potential to fundamentally improve the diagnosis of neurodegenerative disorders, particularly Alzheimer's disease. Bayer Schering Pharma is already pursuing the development of tracers targeting amyloid plaques, a hallmark of this disease. Imaging of neuroinflammation as another important pathology will excellently complement these activities," said Dr. Hans Maier, Head of Business Unit Diagnostic Imaging at Bayer Schering Pharma. "This agreement underscores our commitment to Alzheimer patients by developing innovative diagnostic methods for the early detection of the disease."
Taisho Pharmaceutical Co., Ltd., Nihon Nohyaku Co., Ltd. and the National Institute of Radiological Sciences (NIRS) jointly own patent rights for a compound class that may be applied for various non-invasive imaging technologies, such as positron emission tomography (PET) scanning. Under the terms of the agreement Bayer Schering Pharma receives worldwide exclusive rights to develop and market the respective products for use with PET scanning technology.
Worldwide representative epidemiological surveys* estimate that 24.3 million people suffer from dementia today with about 4.6 million new cases occurring every year. The number of people affected will double every 20 years to an estimated 81.1 million by 2040. Of these cases 50% to 75 % are associated with Alzheimer's disease.
* Ferri C.P. et al. Global prevalence of dementia: a Delphi consensus study. Lancet 2005; 366:2112-17
Bayer Schering Pharma AG is a worldwide leading specialty pharmaceutical company. Its research and business activities are focused on the following areas: Women's Healthcare, Diagnostic Imaging, Specialized Therapeutics, Hematology/Cardiology, Primary Care, and Oncology. With innovative products, Bayer Schering Pharma aims for leading positions in specialized markets worldwide. Using new ideas, Bayer Schering Pharma aims to make a contribution to medical progress and strives to improve the quality of life.
About Taisho Pharmaceutical Co., Ltd.
Taisho Pharmaceutical Co., Ltd. is the leading non-prescription pharmaceutical company in Japan and has also been strengthening its research and development efforts in the area of prescription drugs. Taisho continues efforts to strengthen its prescription drug business through expansion of its novel original R&D and active collaboration with domestic and foreign pharmaceutical companies.
About Nihon Nohyaku Co., Ltd.,
Nihon Nohyaku Co., Ltd. is an agrochemical company listed on the Tokyo Stock exchange. Its core business is crop protection.
About the National Institute of Radiological Sciences (NIRS)
The National Institute of Radiological Sciences (NIRS) in Japan is a state-owned research institution.
This press release has been published by Global Corporate Communications of Bayer Schering Pharma AG, Berlin, Germany.
Oliver Renner, Tel. +49-30-468-12431
Dr. Claudia Schmitt, Tel: +49-30-468-15805
Important information from Bayer Schering Pharma AG:
Bayer Schering Pharma Aktiengesellschaft (formerly Schering Aktiengesellschaft) has filed a solicitation/recommendation statement with the U.S. Securities and Exchange Commission with respect to the offer of cash compensation by Bayer Schering GmbH (formerly Dritte BV GmbH), a wholly owned subsidiary of Bayer Aktiengesellschaft, in connection with the domination and profit and loss transfer agreement between Bayer Schering GmbH and Bayer Schering Pharma Aktiengesellschaft. Holders of ordinary shares and American depositary shares of Bayer Schering Pharma Aktiengesellschaft are advised to read such solicitation/recommendation statement because it contains important information. Holders of ordinary shares and American depositary shares of Bayer Schering Pharma Aktiengesellschaft may obtain such solicitation/recommendation statement and other filed documents free of charge at the U.S. Securities and Exchange Commission's website (http://www.sec.gov) and at Bayer Schering Pharma Aktiengesellschaft's website (http://www.schering.de).
Certain statements in this press release that are neither reported financial results nor other historical information are forward-looking statements, including but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results and Bayer Schering Pharma AG's plans and objectives to differ materially from those expressed or implied in the forward-looking statements. Certain factors that may cause such differences are discussed in our Form 20-F and Form 6-K reports filed with the U.S. Securities and Exchange Commission. Bayer Schering Pharma AG undertakes no obligation to update publicly or revise any of these forward-looking statements, whether to reflect new information or future events or circumstances or otherwise.
Source: Bayer Schering Pharma AG
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