Amsterdam, The Netherlands and Berlin, Germany, November 28, 2005 -- Royal Philips Electronics and Schering AG, Germany have announced today the formation of an alliance to research, develop and commercialize medical equipment and associated contrast agents for optical imaging. As part of their collaboration, the companies will have the option to expand the alliance to cover other imaging technologies and contrast agents, where synergies between the partners are expected, and will also explore the emerging field of molecular imaging. Philips and Schering have agreed to split equally all research and development costs as well as all future revenues from the contrast agents, medical equipment and related services related to this alliance. Financial details of the alliance were not disclosed.

Optical imaging is an emerging imaging technology with the potential to offer new approaches in the prevention and treatment of breast cancer as well as other diseases. Optical imaging uses lasers to illuminate superficial tissue - such as breast tissue. By combining this technology with an optical dye, tumors might be targeted more precisely. Due to its high resolution and sensitivity, optical imaging is expected to offer breast cancer patients a less aggressive, more patient-friendly follow-up examination. Today, such patients may need to undergo the invasive procedure of a biopsy in cases where traditional exams produce inconclusive results.

"We are very excited to team up with a leader in the contrast agent industry. Schering has strong capabilities in pharmaceutical R&D, and is clearly out in front in the new field of contrast agents for optical imaging. We also believe this collaboration builds on Philips' patient focus of coming out with advanced, patient-friendly approaches to preventing and treating serious diseases like breast cancer," explained Jouko Karvinen, CEO of Philips Medical Systems.
"Schering is highly committed to drive innovation in the field of optical imaging," said Dr. Karin Dorrepaal, member of the executive board of Schering AG, responsible for Diagnostic Imaging. "We are looking forward to combining our expertise in the field of optical imaging agents with Philips' strong capabilities in medical imaging and established track record in developing leading edge diagnostic imaging. This will create strong synergies to drive progress in areas of high unmet medical need such as the early and precise diagnosis of breast cancer."

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