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Biotech / Medical : Cambridge Antibody Technology Group
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To: Jongmans who started this subject8/13/2002 4:00:46 AM
From: nigel bates   of 625
 
MELBOURN, England, and MARTINSRIED, Germany, Aug. 13 /PRNewswire-FirstCall/ -- Cambridge Antibody Technology (Nasdaq: CATG; LSE: CAT) and Xerion Pharmaceuticals AG today announce the expansion of their existing business relationship into a research collaboration for target
characterization and drug discovery.
CAT and Xerion will explore and evaluate the therapeutic potential of a cell surface protein known to play a role in allergic reactions in man. CAT will provide specific human antibodies, originally derived from its proprietary phage display libraries, as well as know-how in the target's biology and functional assays. The antibodies will be applied by Xerion using its XCALIbur® target validation technology to investigate new mechanisms of intervention in allergic disease. CAT and Xerion will jointly own the target intellectual property generated.
Xerion has already successfully applied CAT technology for target validation following an antibody library license agreement entered into by the two companies in June 2001.
Peter Chambre, CAT's CEO, commented: "We are delighted that Xerion has achieved success in under a year of using CAT's antibody libraries in combination with its XCALIbur technology. We believe that the combination of the approaches and capabilities of CAT and Xerion provides a significant opportunity to create value in the validation of new targets for drugs against allergic reaction."
Dr. Markus Ewert, President and CEO of Xerion, commented: "We have been pleased about the quality of our relationship with CAT, and are very happy to be working more closely with CAT as a result of this new agreement. We are excited by the possibility that, together, our powerful technologies could assist in exploring new mechanisms of disease intervention in allergy."
The collaboration is designed on a shared costs/shared rights basis and no further financial details are being disclosed...
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