Celera Corporation (NASDAQ:CRA) today announced an exclusive license agreement with Bayer Schering Pharma AG, providing Bayer Schering Pharma with access to five cancer-related targets for therapeutic development and in-vivo diagnostic imaging. These therapeutic targets are over-expressed on the surface of several different tumor cell types and were identified using Celera's proteomics discovery platform.

Under the terms of the agreement, Bayer Schering Pharma will pay Celera a one-time fee for the exclusive access to the five targets. Additional payments are due upon achievement of certain development and commercial milestones. Further, upon commercialization of a product Celera is entitled to royalties based on net sales of a product. Celera retains in vitro diagnostic rights, and it will be able to develop and commercialize related companion in-vitro diagnostics that are specific to therapeutic candidates arising from Bayer Schering Pharma’s program.

“This agreement combines the strength of our novel proteomics target discovery platform with Bayer Schering Pharma’s expertise in research and development,” said Steve Ruben, Ph.D., vice president of proteomic research at Celera. “We believe this new relationship with Bayer Schering Pharma allows us the flexibility to advance part of our broad pipeline of validated targets for additional future value.”

“This agreement allows us to expand our existing research portfolio in the area of cancer-related targets,” said Khusru Asadullah, MD, Head of Target Discovery at Bayer Schering Pharma. “We look forward to exploring the full potential of these promising target candidates with regard to therapeutic interference for anti-tumor therapy as well as in in-vivo diagnostic imaging.”

About Celera

Celera is a healthcare business delivering personalized disease management through a combination of products and services incorporating proprietary discoveries. Berkeley HeartLab, a subsidiary of Celera, offers services to predict cardiovascular disease risk and improve patient management. Celera also commercializes a wide range of molecular diagnostic products through Abbott and has licensed other relevant diagnostic technologies developed to provide personalized disease management in cancer and liver diseases. Information about Celera Corporation, including reports and other information filed by the company with the Securities and Exchange Commission, is available at http://www.celera.com.

Forward-Looking Statements

Certain statements in this press release are forward-looking.