By Jason Derry —

Novacea, Inc. and Schering-Plough have announced an agreement to develop and commercialize Asentar®, which is currently in Phase III clinical trials for the treatment of prostate cancer.  Novacea is to receive an upfront payment of $60 million and $12 million in common stock.  Novacea may also receive up to $380 million in future royalty payments on sales of Asentar.  The Agreement is subject to clearance under the Hart-Scott-Rodino Antitrust Improvement Act.