http://globalarchive.ft.com/globalarchive/article.html?id=020108004218&query=sclerosis
Jan 8, 2002
Cambridge Antibody Technology and
Immunex Corporation announce today that Immunex has exercised an exclusive
license option in respect of development and potential commercialization
of human monoclonal antibodies.
The exercise of the option, one of
eight granted by CAT to Immunex under an agreement signed in December 2000,
grants Immunex the exclusive right to develop human monoclonal antibodies
specific for an undisclosed disease target. Accordingly, CAT has received
a license fee and will potentially receive milestone and royalty payments
on future antibody-based products developed and commercialized by Immunex.
Notes to Editors:
Cambridge Antibody Technology (CAT)
CAT is a UK biotechnology company
using its proprietary technologies in human monoclonal antibodies for drug
discovery and drug development. Based near Cambridge, England, CAT currently
employs around 250 people.
CAT is listed on the London Stock
Exchange and on NASDAQ since June 2001. CAT raised #41m in its IPO in March
1997 and #93m in a secondary offering in March 2000.
CAT has an advanced platform technology
for rapidly isolating human monoclonal antibodies using phage 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 and
to utilize antibodies as tools for target validation. Six human therapeutic
antibodies developed by CAT are at various stages of clinical trials.
CAT has alliances with a large number
of biotechnology and pharmaceutical companies to discover, develop and
commercialize human monoclonal antibody-based products. CAT has also licensed
its proprietary human antibody phage display libraries to several companies
for target validation and drug discovery. CAT's collaborators include:
Abbott, AMRAD, Elan, Eli Lilly, Genetics Institute, Genzyme, Human Genome
Sciences, Immunex, Incyte, Merck & Co., Inc, Oxford GlycoSciences,
Pharmacia, Pfizer, Wyeth-Ayerst, Xerion and Zyomyx.
Immunex Corporation is a biopharmaceutical
company based in Seattle, Washington, and has nearly 1500 employees in
the United States.
The company discovers, develops,
manufactures and markets innovative therapeutic products for the treatment
of human diseases, including cancer and immunological disorders such as
rheumatoid arthritis. The company's research focus has produced a pipeline
of potential products that targets some of the most serious medical challenges
people face, including cancer, multiple sclerosis, heart disease and asthma.
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 CAT's present and future business
strategies and the environment in which CAT will operate in the future.
Certain factors that could cause CAT'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.
Contact:
Website: http://www.cat.com/
World Reporter All Material Subject
to Copyright
PR Newswire - USA;
In December 2000, CAT licensed its
proprietary human phage antibody libraries to Immunex for the discovery,
development and potential commercialization of human monoclonal antibodies
directed to Immunex proprietary targets. CAT and Immunex have since entered
a broad collaborative alliance in respective of exclusive co-development
of human antibody-based drugs against two inflammatory disease targets
identified by Immunex. Immunex Corporation
David Chiswell, Chief Executive
Officer, or John Aston, Finance Director, or Rowena Gardner, Head of Corporate
Communications, all of Cambridge Antibody Technology, +44-0-1763-263-233;
or
Mark R. Leahy, Director, Investor
Relations, or Kris Greco, Manager, Communications, both of Immunex Corporation,
+1-206-389-4363; or
Kevin Smith, or Graham Herring of
Weber Shandwick Square Mile, +44-0-20-7601-1000; or Media -
Brad Miles, ext. 17, or
Investors -
Brandon Lewis, ext. 15, both of
BMC Communications-The Trout Group, +1-212-477-9007