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Biotech / Medical : Diversa Corporation (DVSA)
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To: richardred who wrote (114)6/20/2005 6:49:17 AM
From: nigel bates   of 144
 
Apparently so....

Diversa and Merck Expand Collaboration to Develop Novel Therapeutic Antibodies

SAN DIEGO, June 20 /PRNewswire-FirstCall/ -- Diversa Corporation (Nasdaq: DVSA - News) announced today that it has expanded its existing agreement with Merck & Co., Inc. for the development of novel therapeutic antibodies. Under the terms of the expanded agreement, Diversa will receive an additional upfront payment and research funding, and will be entitled to receive milestones based on successful development of antibody candidates and royalties on sales of products developed under the collaboration. In January, the two companies announced their initial antibody development agreement to apply Diversa's MedEv(TM) antibody evolution platform in a joint development program.

"Based upon the progress of our initial program, we are pleased to expand our collaboration with Diversa," said John Shiver, Ph.D., Vice President, Vaccine and Biologics Research at Merck. "Diversa's antibody optimization technologies are aligned with our overall mission of empowering cutting edge pharmaceutical research to develop market-leading products."

"Diversa's proprietary protein evolution technologies have a unique capability for evolving novel functionality in antibodies. We are enthusiastic about expanding our relationship with Merck and applying our integrated platform for developing next-generation biotherapeutic agents," said Dr. Jay M. Short, Diversa's President and Chief Executive Officer...
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