By Jason Derry —

In May 2006, XOMA Ltd. and
Schering-Plough Corp. agreed to a collaboration relating to discovery and development of therapeutic
monoclonal antibodies.  Under the
agreement, Schering-Plough selects the targets and XOMA uses its proprietary
antibody technology to discover antibodies of therapeutic interest.  On Wednesday, XOMA announced that
Schering-Plough exercised its option for additional discovery and development
programs.

Jason Derry, Ph.D., who graduated with honors from DePaul University
College of Law, is a molecular biologist and founding author of Patent Docs.