[ Biacore acquires exclusive license, cell-profiling apart from plug-flow FACS ]
The good news? KDUS ownership percentage goes back up (I'm losing track!), and Axiom gets another $2 million to support research. The bad news? KDUS owns more of less, in terms of Axiom's commercial scope.
Sounds like a very smart move to me. This handwriting was on the wall. Now lets see what Kozlowski et al. can do in drug discovery.......
Friday September 28, 6:24 am Eastern Time
Press Release
Biacore Acquires an Exclusive License to Axiom
Biotechnologies' Cell-Based Platform Technology
UPPSALA, Sweden--(BUSINESS WIRE)--Sept. 27, 2001--Biacore International AB
(Biacore) (Nasdaq:BCOR - news; OMX:BCOR.) today announced that it has signed an
agreement with Axiom Biotechnologies Inc that provides Biacore with an exclusive license to
all of Axiom's proprietary fluorescent cell- based assay technology with the exception of flow
cytometry-based applications. Biacore's decision to acquire this exclusive license results from
its desire to drive the commercialization of this important technology, which is complementary
to Biacore's own molecular-based assay systems, at a time when Axiom has decided to
refocus its business away from instrument development and into drug discovery. Today's deal
follows on from an exclusive distribution agreement with Axiom that Biacore signed in May
2000, which included an option to license Axiom's follow-on technology.
A new cell based assay system, which is being licensed from Axiom, complements the recently
launched Biacore®S51, a system that is targeted at researchers in the lead optimization and
preclinical phase of drug discovery. Together the systems can provide detailed information on
the biological activity of potential drug candidates in a competitive timeframe and to a depth
and quality superior to existing analytical instrumentation, allowing critical Go / No Go decisions
on the development of drug candidates to be made with much greater confidence.
Biacore expects the new cell-based assay system to be launched at the end of 2002. The final
development of this system will be undertaken using mainly external resources. This approach
will allow Biacore to continue to focus its internal resources on existing R&D programs, such
as its ground breaking SPR array chip-technology.
``Acquiring an exclusive license to Axiom's technology puts us in a position to strengthen our
commercial offering by allowing Biacore to provide the market with complementary molecular
and cell-based assay systems to answer important and fundamental questions in drug
discovery,'' commented Dr Ulf Jönsson, President, Biacore International AB. `` The ability to
drive the commercialization of this technology ourselves means that we are able to benefit from
Axiom's decision to change the strategic direction of its business'' he continued.
Dr Pandi Veerapandian, Chairman and President of Axiom commenting on today's
announcement said, ``I am pleased that Biacore has decided to commercialize our fluorescent
cell-based assay technology. This will allow us to recapture some of the investment we have
made in these technologies, and will support our continuing efforts to expand and advance our
cell-based drug discovery platforms.''
Under the terms of this agreement Biacore will pay Axiom $5m. Of this $3m will be used by Axiom to repurchase three quarters
of Biacore's shareholding in the US company. Biacore's new, reduced equity position is a natural consequence of the US
company's decision to focus its activities on drug discovery and its move away from instrument development. The remaining $2m
will form Biacore's payment to upgrade its former distribution and option agreement into an exclusive license agreement for
Axiom's fluorescent cell-based assay technology outside flow cytometry.
This press release contains certain forward-looking statements within the meaning of the United States Private Securities
Litigation Reform Act of 1995, which, by their nature, involve risk and uncertainty because they relate to events and depend on
circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to
differ materially from those expressed or implied by these forward-looking statements.
Notes to Editors: Biacore Biacore is a global market leader in Surface Plasmon Resonance (SPR) based technology with its own
sales operations in the U.S., across Europe, in Japan, Australia and New Zealand. The technology is protected by a strong patent
portfolio. Target groups consist primarily of medical and life science research laboratories and pharmaceutical and biotechnology
companies all over the world. Biacore focuses on drug discovery as the prime area for future growth. The Company currently has
seven systems on the market with its Biacore®S51 for applications downstream of high-throughput screening (HTS) including
rapid characterization of HTS hits and comprehensive preclinical evaluation of lead compounds. Biacore®3000 offers specific
applications in drug discovery upstream of HTS. A new SPR array system is currently under development.
Based in Uppsala, Sweden, the Company is listed on Stockholmsbörsen and Nasdaq in the U.S. In 2000 the Company had sales of
SEK 438.8 million and an operating income of SEK 78.0 million.
Further information on Biacore can be found on the web: www.biacore.com
Axiom Biotechnologies Inc
Axiom Biotechnologies is a privately-held company focused on the more rapid production of drugs that are more effective and
safer, through the application of its proprietary suite of rapid, high-definition cell assay resources. These resources include the
Axiom Human Cell Bank, a large pharmacologically and genetically characterized collection of human cells; Axiom's SAPhE,
RACE and PACE cell assay technologies; and Axiom's physiogenomic and physiomic drug discovery platforms.
Further information can be found on the web: www.axiombio.com
Note to Editors: This press release is also accessible online at www.Waymaker.net.
Contact:
Miro Pastrnak, Ph.D.
Business Development Manager
Axiom Biotechnologies Inc.
3550 General Atomics Court
San Diego, CA 92121, USA
Phone: (858) 455-4500
Fax: (858) 455-4501 |
