Anacor Pharmaceuticals has entered into an exclusive worldwide agreement with Schering-Plough for the development and commercialization of AN2690, a topical anti-fungal therapy currently in Phase II trials for onychomycosis, a fungal infection of the nail and nail bed that affects 7 to 10% of the U.S. population. Anacor will receive a $40 million upfront payment and a $10 million financing commitment from SP. The company may receive more than $575 million for development, regulatory and com...