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Biotech / Medical : Celltech Group (NYSE: CLL) -- Ignore unavailable to you. Want to Upgrade?

To: keokalani'nui who wrote (33)	4/24/2002 4:39:04 AM
From: nigel bates	Read Replies (2) \| Respond to of 123

Embargoed for release at 07.00am 24th April 2002 CELLTECH AND BIOGEN ANNOUNCE WORLD-WIDE COLLABORATION, TO DEVELOP AND COMMERCIALISE PHASE III CROHN'S DISEASE PRODUCT Companies Also to Explore CDP 571 in Psoriasis Patients Slough, UK and Cambridge, MA - April 24 2002 - Celltech Group Plc (LSE: CCH; NYSE: CLL) and Biogen, Inc. (NASDAQ: BGEN) today announced a collaboration for the research, development, manufacturing and commercialisation of CDP 571, Celltech's humanised anti-TNFa antibody product, which is in Phase III development as a treatment for Crohn's disease. Key terms of the collaboration are as follows: * Celltech and Biogen will share ongoing research, development and registration costs and intend to explore the use of CDP 571 in additional inflammatory conditions, such as psoriasis. * Manufacturing of CDP 571 will be transferred following its launch from the current supplier to Biogen's state-of-the-art 90,000 litre production facility in Research Triangle Park, North Carolina, which will substantially reduce the cost of manufacturing the product. * Celltech and Biogen will each establish specialist salesforces to jointly promote CDP 571 in the US and major European territories, except in Italy where Celltech will have sole commercial rights. The parties will share profits equally in these territories. * The agreement provides for Celltech to withdraw from joint promotion of CDP 571 should it successfully gain registration for its third-generation anti-TNFa antibody fragment, CDP 870, in Crohn's disease. In this scenario, Celltech retains its share of future profits from CDP 571. * The collaboration also provides Biogen, at its discretion, with the right to withdraw from elements of the agreement if certain critical milestones are not reached. CDP 571 is a fully humanised anti-TNFa antibody, which is being developed as a potential treatment for Crohn's disease and other inflammatory disorders. CDP 571 is currently being studied in two large international Phase III studies in Crohn's disease, results from which are expected in mid-2002. In the U.S., CDP 571 has Orphan Drug status. It also has FDA Fast Track Designation for steroid withdrawal in steroid dependent patients. Dr Peter Fellner, Chief Executive Officer of Celltech, commented: 'This agreement provides exceptional advantages to both companies. Access to Biogen's outstanding mammalian cell-based production capabilities will substantially reduce the manufacturing cost of this product. The collaboration also enables Celltech to benefit from Biogen's great experience in commercialising specialised biologic products. As a result, this collaboration may extend the in-market life of CDP 571.' Jim Mullen, Chief Executive of Biogen, commented: 'Biogen has known Celltech for more than a decade and we have great respect for the company's science and its management. With today's agreement, Biogen acquires access to a Phase III product that increases the company's synergies in our portfolio of treatment options for autoimmune disorders. The collaboration will also allow Biogen to further develop expertise that will prove commercially valuable to ANTEGREN, now in Phase III clinical trials for Crohn's disease. And with our psoriasis product, AMEVIVE, now eight months into the approval process, the potential application of CDP 571 in this indication further confirms the strategic fit of this collaboration.'...