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Biotech / Medical : CLTR COULTER PHARMACEUTICAL -- Ignore unavailable to you. Want to Upgrade?

To: nigel bates who wrote (616)	10/3/2000 9:33:19 AM
From: nigel bates	Read Replies (1) \| Respond to of 666

Detail from Coulter - Oct. 3, 2000-- Coulter Pharmaceutical, Inc. (Nasdaq:CLTR - news) and Cobra Therapeutics Ltd, the gene therapy subsidiary of ML Laboratories, today announced that the companies have entered into a collaboration to jointly develop and commercialize Cobra's platform gene expression technology. The technology, known as Ubiquitous Chromatin Opening Elements (UCOEs), is a new class of gene expression elements which induce efficient productivity from genes introduced into target cells. UCOE transfected cells yield more predictable, high-level expression of gene products in a sustained fashion. UCOEs have a wide range of potential applications including gene therapy, functional genomics and the manufacture of therapeutic proteins including recombinant antibodies. ``We are pleased to enter into this broad collaboration with Cobra whose UCOE technology is a perfect complement to our antibody therapeutics program,'' said Michael F. Bigham, president and chief executive officer of Coulter. ``UCOE technology is a powerful enabling platform technology with dramatic potential in the creation and manufacture of therapeutics. We look forward to leveraging this platform in our own internal programs as well as licensing the technology to external parties.'' Stuart Sim, chief executive of ML Laboratories said, ``We are delighted to have Coulter partner the development of our UCOE technology for use in the production and evaluation of antibodies as their expertise in this area is considerable and complementary to our own capabilities. The application of our technology in this area is particularly important as it represents a major class of therapeutic proteins and consequently offers significant commercial potential.'' Under the terms of the agreement, the two companies will jointly develop and commercialize the UCOE technology within an agreed upon plan. In return, Coulter will pay Cobra an upfront payment of (pound) 1.0 million and event-based milestone and sublicense fees. The agreement allows for exclusive, royalty-free commercialization of the first two products derived within each company's own product line. Any products commercialized after the first two will be subject to a royalty fee. The agreement also allows for sublicensing of the technology. Coulter will principally be responsible for obtaining sublicenses in North America and Japan while Cobra will be principally responsible for all other territories. Generally, revenues from third party milestone and royalty payments will be split equally. Two pre-existing licenses established by Cobra are excluded from this agreement's sublicense terms. Coulter Pharmaceutical, Inc. is engaged in the development of novel drugs and therapies for the treatment of cancer and autoimmune diseases. The company currently is developing a family of therapeutics based upon two drug development programs: therapeutic antibodies and targeted oncologics. The company's most advanced product candidate is Bexxar(TM), a monoclonal antibody conjugated to a radioisotope. The company's therapeutic antibodies program also includes an interferon receptor antagonist. Initial efforts in the targeted oncologics program are based on tumor activated prodrug (TAP) and tumor-specific targeting (TST) technologies. For more company information, visit Coulter Pharmaceutical's web site at coulterpharm.com. Cobra Therapeutics is one of Europe's leading research groups developing novel DNA technologies for applications in human gene therapy, the genomics revolution and manufacturing of biological products. In addition Cobra manufacturers DNA and viral products on a contract basis for several pharmaceutical and biotechnology companies including Glaxo Welcome at its GMP manufacturing facility in Keele, Staffs, which is one of only a small number of such facilities in Europe. Further information can be found at cobrat.com ...