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Biotech / Medical : HuMAB companies

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To: Icebrg who wrote (652)	7/14/2004 3:06:44 AM
From: Icebrg	of 1022

BioInvent and Cartela reach the first milestone in the development of drug to treat diseases of the joints [2004-07-14 9:00] Lund, Sweden: An important pre-clinical milestone has been reached in the research collaboration between BioInvent International AB (SAX:BINV) and Cartela AB to develop an antibody-based drug to treat osteoarthritis. BioInvent will pay a success fee to Cartela according to the licence acquired in October 2003. The collaboration between BioInvent and Cartela has in the first pre-clinical phase focused on the identification of antibody candidates that can restore the balance in the formation and the degeneration of cartilage in diseases of the joints as osteroarthritis. In a short period of time a large number of antibodies targeting Cartela’s proprietary targets have been identified. Several of these have shown to be able to modulate the collagen synthesis in in vitro models. Collagen is the main component in the cartilage that brakes down when osteoarthritis is developed. The milestone is an important first step in the development of a new drug to treat osteoarthitis. It is our expectation that such a drug can improve the life quality for many people and thus give a significant market potential. We are very pleased with the collaboration with Cartela and the opportunity to commercialise Cartela’s proprietary target proteins to develop an antibody-based drug," says Svein Mathisen, President and CEO of BioInvent. Evy Lundgren Åkerlund, CEO of Cartela, says: "The development work to analyse the antibodies against the targets has proceeded as planned and we have identified candidates that now will be analysed in disease models. The collaboration with BioInvent has functioned very well and it feels really stimulating to take a step forward in our mutual project."

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