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Biotech / Medical : Tularik Inc. (TLRK) -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (107)	7/12/2001 3:23:53 PM
From: nigel bates	Respond to of 598

Financial details below. Protherics could be worth a punt. It's pretty tiny, and has the rattlesnake antivenom market (no, really) to itself after the US group (I forget who) which produced it discontinued production. LONDON, July 12 (Reuters) - British biotechnology firm Protherics Plc (LSE: PTI.L - news) , best known for developing the first new antidote to rattlesnake bite in 50 years, said on Thursday it had agreed to sell its drug design business for some $9.4 million. San Francisco-based Tularik Inc is taking over the the computer-aided molecular design (CAMD) operation -- which Protherics announced last year it planned to divest -- for 400,000 shares. "The sale of CAMD marks Protherics' successful move to a focused immunotherapeutics company which we believe will accelerate the delivery of shareholder value," said Chief Executive Andrew Heath. The group's CroFab rattlesnake antivenom went on sale last year and Heath said sales to date were in line with expectations. Protherics had previously said CroFab revenues could reach an annual $40 million within a couple of years. Its biggest hopes, however, are pinned on an angiotensin vaccine for the treatment of high blood pressure, which could reach the market in three to four years. Heath said UK clinical trials of the angiotensin vaccine were on track, with preparations underway for larger Phase II tests to prove the product's efficacy.