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Share Name | Share Symbol | Market | Type |
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Biotest AG | TG:BIO | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 41.60 | 41.60 | 42.40 | 0.00 | 14:18:06 |
RNS Number:5297P BioFocus PLC 09 September 2003 For Immediate Release 9 September 2003 BIOFOCUS AND AXXIMA ACHIEVE RESEARCH MILESTONE Chesterford Research Park, UK and Munich, Germany, 9th September, 2003 - BioFocus plc (AIM: BIO), a world leader in collaborative drug discovery, and Axxima Pharmaceuticals AG, a private drug discovery and development company leading the field of pathogen-host signal transduction, today announced they have achieved a research milestone in the fight against HIV. In the collaboration, which started in July 2002, BioFocus and Axxima scientists have successfully developed assays for targets implicated in HIV and identified lead compounds active against one of Axxima's kinase targets. These leads originated from BioFocus' SoftFocusTM kinase-directed compound collection. The milestone was triggered by Axxima's acceptance of the compounds identified in the collaboration and its decision to pursue a programme of lead optimization with BioFocus. The goal of the collaboration is to generate pre-clinical anti-HIV candidates on which Axxima can perform further development. Achievement of this key research milestone will result in a cash payment to BioFocus. BioFocus is also entitled to receive ongoing research fees, interim success-based milestones and royalties following commercialization of any products. Geoff McMillan, BioFocus' Chief Executive, said, "This achievement is a further important indication that our abilities as an integrated drug discovery business can yield downstream returns. We now have 28 individual programmes in which we retain a downstream interest and we expect to see further demonstrations of the productivity of this pipeline and our unique approach to the discovery of innovative therapeutics. We are very impressed by Axxima's unique approach and strong kinase expertise." Dr. Rainer Wessel, President & CEO of Axxima, added, "We are very excited about the results emerging from our collaboration with BioFocus. The combination of BioFocus' tailor-made kinase inhibitor libraries and in-house chemistry expertise, together with our strong kinase related technologies, resulted in the identification of a novel kinase inhibitor class with a good potential for further lead optimization." About BioFocus BioFocus is a leading drug discovery company working in partnership with major pharmaceutical and biotechnology companies. Additionally it is developing a portfolio of internal drug discovery programmes aimed at providing drug leads for partnering. The company was founded in 1997 and is quoted on the Alternative Investment Market of the London Stock Exchange. BioFocus works with a wide range of global clients and in 2002 provided services and/or products to 22 leading pharmaceutical companies. About Axxima Axxima(R) Pharmaceuticals AG is a drug discovery and development company, pioneering the revolutionary approach of generating a "Signal Transduction Firewall(R)" to combat infections, and related diseases, such as inflammation. The most advanced projects include HIV, hepatitis C, tuberculosis and HCMV. By blocking critical signal transduction pathways required by pathogens for their survival, Axxima's compounds address entirely novel mechanisms for fighting resistance formation. Whereas the goal of conventional medications is to target the disease causing pathogen directly, the new generation of drugs developed by Axxima will prevent the pathogen from hijacking the communication system of the cell. In three private financing rounds, Axxima has received a total of 54 million Euro from German and international investors. The Company currently employs a total staff of 90, located at Axxima's headquarters in Munich, Germany, and at its Hungarian subsidiary Vichem Kft. in Budapest. Further information about Axxima can be found at www.axxima.com. For further information: BioFocus +44 (0) 1799 533500 Geoff McMillan, Chief Executive John Kamins, Vice President Business Development & Marketing Buchanan Communications +44 (0) 20 7466 5000 Rebecca Skye Dietrich Axxima Rainer Wessel, President & CEO +49 (0) 89 550 650 Arnd Prilipp, Manager Corporate Communications +49 (0) 89 550 266 This information is provided by RNS The company news service from the London Stock Exchange END MSCILFVDAVITIIV
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