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Biotech / Medical : HuMAB companies

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To: nigel bates who wrote (85)	11/23/2000 9:29:28 AM
From: nigel bates	of 1022

BioTecH Scotland E-Bulletin Issue 1 November 2000 Aberdeen's BioVation is Sold for £20 Million ============================================ BIOVATION, a successful biotech company based in Aberdeen, has been sold to the German pharmaceutical giant Merck for nearly £20m. Frankfurt-based Merck said it intended to use research undertaken by Biovation to expand its cancer treatment operations. The deal has turned Biovation founder and majority shareholder Frank Carr into a millionaire. It has also generated a healthy profit for his venture capital backers Scottish Equity Partners and 3i. Carr founded Biovation in 1994 and will remain managing director of the company under Merck's ownership. He was formerly a senior scientist with Amersham International and ICI. Biovation's success was built on its "DeImmunisation" technology. This enhances the effectiveness of existing medical treatments by making medical proteins and antibodies more acceptable to the human immune system. Last year Biovation signed deals with eight US pharmaceutical companies to beef up the impact of their existing drugs through the application of DeImmunisation technology. Full details from scottish-enterprise.com

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