CAMBRIDGE, Mass., May 27 -- EPIX Medical Inc. and Schering AG said they have agreed to investigate new approaches for innovative magnetic resonance imaging (MRI) contrast media. The research and development activities will focus on novel targeting of MRI contrast agents, which could be used in specific imaging fields such as cardiovascular disease and cancer. The research program is scheduled to last three years, with the potential to extend the agreement for another two years. In addition, Schering and EPIX signed an agreement for the development and commercialization of EP-2104R, EPIX's product candidate for the detection of blood clots. EPIX will conduct early development activities for EP-2104R, which Schering AG will support with up to $9 million. For the exclusive research partnership, Schering AG committed funding of EPIX's early development activities of approximately $4 million over the next two years and a loan facility of up to $15 million. EPIX, based in Cambridge, is a specialty pharmaceutical company and a developer of targeted MRI contrast agents for the diagnosis and clinical management of disease. Schering AG, of Germany, is a research-based pharmaceutical company. The alliance builds on a collaboration established in June 2000 for MS-325, a blood pool agent specifically designed for vascular imaging with MRI. For more information, visit: www.epixmed.com
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