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CAMBRIDGE
ANTIBODY TECHNOLOGY GROUP plc PRELIMINARY STATEMENT OF RESULTS FOR THE
YEAR ENDED 30 SEPTEMBER 2003
Cambridge, UK… Cambridge Antibody Technology Group
plc (LSE: CAT; NASDAQ: CATG) today announces preliminary results for the year
ended 30 September 2003.
Highlights
- Three CAT products now in clinical
development, with two further product candidates in pre-clinical development
- Significant enhancement of collaboration with
Genzyme
- Equity investment by Genzyme of £22.9 million
- HUMIRA(TM), isolated and optimised by CAT in
collaboration with Abbott, and licensed to Abbott, approved for marketing in
the US and EU for the treatment of rheumatoid arthritis
- Five further licensed CAT-derived products in
clinical development, with three further licensed product candidates
in pre-clinical development
- Legal proceedings commenced against Abbott in
the High Court in London in respect of the dispute over the level of HUMIRA
royalties
- LymphoStat-BTM commenced Phase II clinical
trials in systemic lupus erythematosus (HGSI)
- Professor Peter Garland to retire as Chairman
at forthcoming AGM and be succeeded by Dr Paul Nicholson
- Financial results for the year in line with
expectations:
- Net cash outflow before financing for the year
ended 30 September 2003: £33.6 million
- Net cash outflow after financing for the year
ended 30 September 2003: £21.9 million
- Cash and liquid resources at 30 September
2003: £107.8 million
Cambridge Antibody Technology
Milstein Building
Granta Park
Cambridge
CB1 6GH
UK
Telephone: + 44 (0) 1223 471471
Facsimile + 44 (0) 1223 471472
http://www.cambridgeantibody.com
Cambridge Antibody Technology Limited *
Registered Office:
Milstein Building, Granta Park, Cambridge, CB1 6GH, UK Registered in England and Wales number 2451177
(* Cambridge Antibody Technology Limited is a member of the Cambridge Antibody Technology Group of Companies)
For further information contact:
Cambridge Antibody Technology
Tel: +44 (0) 1223 471 471
Peter Chambré, Chief Executive Officer
John Aston, Chief Financial Officer
Rowena Gardner, Director of Corporate Communications
Weber Shandwick Square Mile (Europe)
Tel: +44 (0) 20 7067 0700
Rachel Lankester
Kevin Smith
BMC Communications/The Trout Group (USA)
Tel: 001 212 477 9007
Brad Miles, ext 17 (media)
Brandon Lewis, ext 15 (investors)
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