Schering licenses Celera autoimmune program

Schering is buying Celera's autoimmune disease program for $5 million up front and up to $360 million in milestones. Celera gets half of the up front money on the closing of the deal and the other half when it transfers its cathepsin S inhibitor assets to the German drug developer. Celera also sold a preclinical therapy to an unidentified venture capital investor for $250,000 and $15 million in milestones.

- here's the AP report on Celera