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Schering-Plough, Xoma Deal Continue
Wednesday January 17, 10:18 am ET
Schering-Plough Chooses to Continue Antibody Collaboration With Xoma
http://biz.yahoo.com/ap/070117/xoma_schering_collaboration.html?.v=1
http://www.thestreet.com/_yahoo/newsanalysis/biotech/10332930.html?cm_ven=YAHOO&cm_cat=FREE&...

BERKELEY, Calif. (AP) -- Biopharmaceutical company Xoma Ltd. said Wednesday Schering-Plough Corp. exercised its right to continue its collaboration on developing antibody products.
Xoma said it received additional payments for each of the new programs and will receive research funding for each projects. The company did not release details on the additional programs or the amount paid upfront.

The companies started the collaboration May 23. Xoma is responsible for discovering antibodies selected by Schering-Plough. Additionally, Xoma is expected provide preclinical studies.

Shares of Xoma rose 14 cents, or 6 percent, to $2.49 on the Nasdaq in morning trading. Earlier in the session, shares traded as high as $2.55, topping a previous 52-week high of $2.50.