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LONDON, Sept 11 (Reuters) - British biotech company Oxford GlycoSciences (LSE: OGS.L - news) Plc on Monday announced an alliance with Medarex Inc to develop therapeutic antibody products.
To seal the deal, the U.S. biotech firm will make a $5 million equity investment in Oxford, the two companies said.
"The two companies plan to jointly discover, develop and commercialise fully human antibodies as therapeutics," they said in a joint statement.
The partnership would focus on products for use against a range of human cancers, bringing together Oxford's technology for identifying target proteins and Medarex's technology for taking a discovery to development, they added.
Oxford would provide up to 30 protein targets for cancer and other life-threatening diseases to the collaboration, starting with novel breast cancer proteins.
Under the deal, Medarex and Oxford are to share preclinical and clinical responsibilities, and they plan jointly to commercialise products resulting from the research programme.
"(Oxford) is undertaking to discover and file patent applications on hundreds of novel targets with a specific focus on new membrane antigens for each of the major cancers -- breast, prostate, colorectal, lung, ovarian, pancreatic and leukemia," Chief Executive Michael Kranda said in a statement.
"In collaboration with Medarex, we are confident we can convert our growing portfolio of proprietary proteins into a substantial pipeline of therapeutic human monoclonal antibody products," ... |
