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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:6749P BioFocus PLC 12 September 2003 BIOFOCUS AND BIOVITRUM ANNOUNCE PROGRESS OF CHEMOGENOMIC GPCR COLLABORATION Companies Launch Lead Partnering Programme Chesterford Research Park, UK, 12th September, 2003 - BioFocus plc (AIM: BIO), a world leader in collaborative drug discovery, today provided the following update on the progress of its chemogenomic-based GPCR collaboration with Biovitrum, a leading European biotech company. GPCRs are implicated in a broad range of disease states, including diseases such as obesity, diabetes, cancer and depression. Over 40% of drugs currently on the market act through GPCRs. Since beginning the collaboration in September 2002, twenty-two disease targets have entered the programme. High quality hits capable of progression to lead series have been found in over 60% of targets screened, compared to an industry average of around 25%. In addition, the approach used by the programme has cut the time for lead optimisation significantly, with the first lead partnering candidates expected to be available for out-licensing by the end of 2003. BioFocus and Biovitrum established the G-Protein Coupled Receptor (GPCR) drug discovery program to jointly identify novel drug molecules against multiple GPCRs in September of 2002. The collaboration exploits BioFocus' novel chemogenomic approach to GPCR drug design in parallel with Biovitrum's GPCR target expertise. Under the terms of the collaboration, the companies plan to generate a number of project opportunities that will be developed up to the stage of late hit-to-lead /lead optimization. The resulting lead series not pursued by Biovitrum, BioFocus or the collaboration will be offered to third parties for partnering. Commenting on these developments, BioFocus Chief Executive, Geoff McMillan, said, "This combined programme is exceeding our expectations in terms of its efficiency and speed as well as the quality of the leads being discovered. The ability to generate a portfolio of quality out-licensing candidates adds a new dimension to our business and is a great credit to the scientists of both companies as they strive to discover novel therapeutics." Biovitrum CEO, Mats Pettersson, reinforced by adding, "The combined capabilities of BioFocus and Biovitrum generate leads of a quantity and quality surpassing our expectations. Only a minor part of the assets generated by the programme will be needed for a strong addition to our respective companies' project portfolios, opening up a large number of opportunities for third party collaborations." 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 Biovitrum Biovitrum is a privately-held biotech company active in the discovery and development of drugs to treat metabolic diseases, such as type 2 diabetes and obesity, and in the contract process development and manufacturing of protein therapeutics. The company has a strong intellectual property and technology platform, with a number of compounds in pre-clinical and clinical development. Biovitrum is one of the largest biotech companies in Europe with more than 575 employees. Annual revenues, including royalties and contract service fees, finance the major part of the annual research budget. For more information, please visit Biovitrum's website at www.biovitrum.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 Mark Court/Rebecca Skye Dietrich This information is provided by RNS The company news service from the London Stock Exchange END MSCGUUCABUPWGAG
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