Schering-Plough To Buy Discovery Pharma Co. NeoGenesis

Schering-Plough Corp. agreed to acquire small molecule discovery firm NeoGenesis
Pharmaceuticals Inc. The two companies have been research collaborators since
1999. NeoGenesis, founded in 1997, raised over $54 million from investors
including OrbiMed Advisors, Ft. Washington Private Equity Investors, Essex
Street Associates and Valentine Partners. Terms of the deal weren't disclosed.