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Caliper Shares Jump 8 Percent as Xenogen Unit Pens Target Validation Deal With Schering-Plough

NEW YORK (GenomeWeb News) - Caliper Life Sciences business unit Xenogen Biosciences will collaborate with Schering-Plough Research Institute to validate targets in drug discovery, Xenogen said today.
News of the alliance caused shares in Caliper to trade up 8.07 percent, or $.37, at $4.97 mid-afternoon today.
Xenogen Biosciences will use its serial phenotyping compression technology to characterize high value targets. The technology relies on a battery of more than 85 pharmacologically validated bioassays.
The agreement expands on a previous gene targeting agreement to create standard and conditional gene knockouts.
Financial details were not disclosed.

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