NEWS!!!
Techne Acquires Cistron Biotechnology's Research Reagents
Business and Exclusive Sublicense to Certain Interleukin 1 Beta
Patents for the Research Market
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MINNEAPOLIS, Feb. 23 /PRNewswire/ -- Techne Corporation (Nasdaq: TECH) and
Cistron Biotechnology,
Inc. (OTC Bulletin Board: CIST) announced today that through TECHNE's subsidiary,
Research and
Diagnostics Systems, Inc. (R&D Systems), TECHNE has purchased from Cistron its
research reagents
business and exclusive research market rights to Interleukin 1 beta (IL-1B) antibody and
immunoassay
patents. Cistron will retain diagnostic and therapeutic marketing rights on the IL-1B
patents.
The effective date of the acquisition is April 1, 1999. R&D Systems paid $750,000 cash
for Cistron's
research reagents business and IL-1B research market patent rights. In addition,
royalties will be paid on
the net sales of IL-1B proteins, antibodies and immunoassays by TECHNE and its
subsidiaries for the life
of the patents. Cistron's research reagent sales for their fiscal year ended June 30,1998
were
approximately $550,000.
Thomas E. Oland, President of TECHNE said, "We have had a working relationship with
Cistron for a
number of years and we were very pleased that they came to us when they decided to
withdraw from the
research reagents market place. We believe we are the leaders in the cytokine research
reagents market
and that we will be able to maximize Cistron's royalty stream on sales of IL-1B."
Bruce C. Galton, Chairman and CEO of Cistron said, "Cistron is concentrating on the
research and
development of the therapeutic and diagnostic applications of our technologies rather
than continue the
production and sale of research reagents. R&D Systems was a natural choice to work
with for the
research product market due to their scientific strength and marketing expertise."
Cistron's primary product area is immune response regulators known as lymphokines.
The company is
developing therapeutic and diagnostic applications of its technology for cancer, arthritis
and other auto
immune diseases.
TECHNE Corporation has two operating subsidiaries: Research and Diagnostic Systems,
Inc. (R&D
Systems) of Minneapolis, Minnesota and R&D Systems Europe Ltd. of Abingdon
England. R&D Systems
is a specialty manufacturer of biological products and R&D Systems Europe is a
distributor of
biotechnology products. |
