Bombed-out herpes treatment developer Henderson Morley has signed a collaboration deal with US drug giant Schering Plough.

Birmingham-based Henderson, whose shares are quoted on AIM, says that New York-quoted Schering Plough has agreed a collaborative research and option deal with the US company. Under this deal, the US company will, for at least 15 months, fund development of a vaccine which Henderson Morley hopes will effectively combat Koi herpes virus (KHV), which 'decimates' these prized fish around the world.

The company, whose various treatment projects are based on its ‘Ionic Contra Viral Therapy’ (ICVT), is also working on attacking the herpes which afflicts kittens and breeding cats. Other projects include cancer immunotherapy.

Floated on AIM seven years ago at 4p, shares in Henderson Morley have drastically underperformed the market. Now 0.75, they value the company at a mere £4.3 million

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