>>SAN DIEGO, Calif.--(BW HealthWire)--Dec. 19, 2001-- Applied Molecular Evolution, Inc. (AME) (Nasdaq: AMEV - news) today announced that it has agreed to optimize two protein therapeutics for Eli Lilly and Company (NYSE: LLY - news). The goal of the collaboration is to apply AME's proprietary AMEsystem(TM)directed molecular evolution technology to create optimized versions of an antibody as well as a non-antibody protein therapeutic for clinical development. Under the terms of the agreement, AME will receive an upfront signing fee, milestone payments, and royalties on future product sales.
``AME is excited to collaborate with Lilly, one of the world's leading pharmaceutical companies, on these two protein therapeutics,'' said William D. Huse, M.D., Ph.D., Chief Executive Officer and President of AME. ``This collaboration underscores AME's proven ability to optimize both antibody and non-antibody protein therapeutics to address life threatening diseases and significant unmet medical needs.''
``We selected AME to optimize these important therapeutic proteins because of AME's unique experience and capabilities in engineering protein therapeutics. We, too, are excited about initiating this collaboration,'' said Thomas F. Bumol, Ph.D., Vice President, Research Technologies and Proteins, Eli Lilly and Company.<<
snip
Too bad BLUE HP was cash poor when AMEV was cheap.
Cheers, Tuck |
