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Cambridge
Antibody Technology (CAT) Grants Licence To Wyeth
11
February 2004.
Cambridge,
UK … Cambridge
Antibody Technology (LSE: CAT; NASDAQ: CATG) today announces that Wyeth (NYSE:WYE)
has exercised an option to license CAT’s proprietary antibody phage display
libraries for in-house use. The libraries will support Wyeth’s activities in
therapeutic antibody drug discovery and development across a broad range of
therapeutic areas. This option to license CAT’s libraries was granted to
Wyeth as part of the collaboration agreement entered into in March 1999.
In return for Wyeth’s exercise of the option, CAT will receive an upfront
licence fee. Wyeth has a number of exclusive therapeutic and diagnostic antibody
product options related to its use of the library which, if exercised, will
result in CAT receiving a product licence fee and potential milestone and
royalty payments.
Peter Chambré, Chief Executive Officer of CAT, commented “We have developed
an excellent relationship with Wyeth over the past four years that has already
resulted in Wyeth taking two exclusive product licences to human antibodies
identified through work carried out at CAT in collaboration with Wyeth. This
collaboration has clearly demonstrated the value of our platform technology and
we are pleased that Wyeth has chosen to take this technology in house.”
-ENDS-
Notes to Editors
Cambridge Antibody Technology (CAT):
- CAT is a UK-based
biotechnology company using its proprietary technologies and capabilities in
human monoclonal antibodies for drug discovery and drug development. Based
near Cambridge, England, CAT currently employs around 270 people.
- CAT is a leader in the
discovery and development of human therapeutic antibodies and has an
advanced proprietary platform technology for rapidly isolating human
monoclonal antibodies using phage display and ribosome display systems. CAT
has extensive phage antibody libraries, currently incorporating more than
100 billion distinct antibodies. These libraries form the basis for the
Company’s strategy to develop a portfolio of antibody-based drugs.
- Three CAT human therapeutic
antibody products are now in clinical development, with two further product
candidates in pre-clinical development.
- HUMIRA(TM), the leading
CAT-derived antibody, isolated and optimised in collaboration with Abbott,
has been approved by the US Food and Drug Administration for marketing in
the US and by the European Commission for marketing in the EU as a treatment
for rheumatoid arthritis.
- Five further licensed
CAT-derived human therapeutic antibodies are in clinical development, with
four further licensed product candidates in pre-clinical development.
- CAT has alliances with a
number of pharmaceutical and biotechnology companies to discover, develop
and commercialise human monoclonal antibody-based products. In particular,
CAT has a broad collaboration with Genzyme for the development and
commercialisation of antibodies directed against TGFb, a family of proteins
associated with fibrosis and scarring. This collaboration has so far given
rise to one antibody product candidate at clinical development stage, and
one at pre-clinical development stage.
- CAT has also licensed its
proprietary technologies to several companies. CAT’s licensees include:
Abbott, Amgen, Chugai, Human Genome Sciences, Merck & Co, Pfizer and
Wyeth Research.
- CAT is listed on the London
Stock Exchange and on NASDAQ. CAT raised £41m in its IPO in March 1997 and
£93m in a secondary offering in March 2000.
Application of the Safe Harbor of
the Private Securities Litigation Reform Act of 1995: This press release
contains statements about Cambridge Antibody Technology Group plc
("CAT") that are forward looking statements. All statements other than
statements of historical facts included in this press release may be forward
looking statements within the meaning of Section 21E of the Securities Exchange
Act of 1934. These forward looking statements are based on numerous assumptions
regarding the company’s present and future business strategies and the
environment in which the company will operate in the future. Certain factors
that could cause the company’s actual results, performance or achievements to
differ materially from those in the forward looking statements include: market
conditions, CAT’s ability to enter into and maintain collaborative
arrangements, success of product candidates in clinical trials, regulatory
developments and competition. We caution investors not to place undue reliance
on the forward looking statements contained in this press release. These
statements speak only as of the date of this press release, and we undertake no
obligation to update or revise the statements.
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
Kevin Smith
Rachel Lankester
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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