SCHERING TO BUY NEOGENESIS

Seeking to improve its drug discovery technology and establish a beachhead in the fertile Cambridge biotechnology cluster, drug giant Schering-Plough of Kenilworth, N.J., said it would buy NeoGenesis Pharmaceuticals of Cambridge for an undisclosed sum. The two companies have worked together since 1999 on a variety of drug discovery programs for antiviral medications and other therapeutics. Henry Skinner, NeoGenesis' president and chief executive, said the two firms formed a "deep collaboration" that led to the acquisition.

The Boston Globe (http://www.boston.com/business/articles/2005/01/21/schering_to_buy_neogenesis/?rss_id=Boston%2BGlobe%2B--%2BBusiness%2BNews)