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Biotech / Medical : Cistron Biotechnology(CIST)$.30

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To: Mike McFarland who wrote (2575)	2/12/2000 12:33:00 PM
From: Walter Morton	Read Replies (1) of 2742

Human Therapeutics Ltd. today announced the acquisition of Biotech Australia, a biotechnology company, from Hoechst Australia Ltd. (Biotech Australia licenses CIST's patented PAI-2 and is using it to: bioaust.com.au; also see bold print below) The partners have agreed not to disclose the financial details of the transaction. Human Therapeutics is a company owned by a consortium of investors and Biotech Australia's management. Biotech Australia will continue its business of developing its own biopharmaceuticals and carrying out contract development and production in this field. A major asset of the company is its facility at Roseville, Sydney where it has a state-of-the-art plant for the production of human biopharmaceuticals. The company has a potential product that is heading for completion of Phase II clinical trials, for treatment of Chronic Venous Leg Ulcers and Psoriasis. World markets for these applications are very significant. The company has a very extensive patent portfolio including patents for oral formulation of biopharmaceuticals such as insulin which currently have to be injected, and for other proteins that are potential pharmaceuticals, such as follistatin which has been shown to stimulate liver regeneration in animal models. Dr. David Harrison CEO of Biotech Australia said "This is a wonderful opportunity for the company to independently develop fully our valuable intellectual property and to expand our biopharmaceutical contracting business. It is a particularly gratifying reward for our 55 staff who have shown such loyalty to the company." Chris Bregenhoj, spokesman for Human Therapeutics stated that they were very excited by the opportunity provided by this acquisition. The plan is to list in the latter part of 2000. bioaust.com.au REMEMBER THIS? Message 11483143 Message 11483254 Message 11483403

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