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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Catco Reinsurance Opportunities Fund Limited | LSE:CAT | London | Ordinary Share | BMG1961Q3242 | ORD USD0.00013716 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 24.00 | 13.00 | 35.00 | 24.00 | 24.00 | 24.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Unit Inv Tr, Closed-end Mgmt | 6.33M | 5.44M | 3.6440 | 6.59 | 35.84M |
RNS Number:2231T Cambridge Antibody Tech Group PLC 30 October 2000 For Further Information Contact: Cambridge Antibody Technology Tel: +44 (0) 1763 263233 John Aston, Finance Director Rowena Gardner, Head of Corporate Communications HCC De Facto (Europe) Tel: +44 (0) 20 7496 3300 Nikul Odedra (trade) Sue Charles (city/financial) Human Genome Sciences Tel: 001 301 309 8504 Arthur M. Mandell, Senior Vice President, Corporate and Business Development Kate de Santis, Director, Corporate Communications and Investor Relations BMC Communications/The Trout Group (USA) Tel: 001 212 477 9007 Brad Miles, ext 17 (media) Jonathan Fassberg, ext.16 (investors) CAMBRIDGE ANTIBODY TECHNOLOGY AND HUMAN GENOME SCIENCES COMMIT TO EXCLUSIVE DEVELOPMENT OF ANTI-BLYS ANTIBODIES MELBOURN, UK and ROCKVILLE, Maryland, USA Cambridge Antibody Technology (LSE: CAT) and Human Genome Sciences (NASDAQ: HGSI) today announced that HGS has exercised an option to enter into an exclusive development partnership on the target B-Lymphocyte Stimulator, also known as BLyS, a protein discovered by HGS. BLyS is a naturally occurring protein that stimulates the production of antibodies, the body's first line of defence against infection. The discovery and preliminary description of BLyS' activity was announced by HGS in July 1999. Subsequent laboratory studies have indicated that higher than normal blood levels of BLyS may play a crucial role in several autoimmune and neoplastic disorders. The use of an antibody to BLyS may block the effects seen in the patients who produce a higher than normal level of BLyS. Under an agreement signed in August 1999 by the two companies, BLyS was the first human protein target studied by the collaboration team. This agreement was later supplemented in March 2000 with a broad collaboration and product development alliance. HGS and CAT have worked closely to isolate over 10,000 antibody clones specific to BLyS and to characterise more than 1,000 distinct human antibodies. By using high-throughput functional screening of these antibody leads, these clinical candidates have been produced and studied in record time. At the present time, HGS plans to select one of these candidates in order to initiate clinical trials next year. Under the terms of this exclusive development agreement, CAT will be entitled to receive an up front fee and will potentially receive clinical development milestones and royalties on product sales from HGS. Financial details were not disclosed. Dr. David Chiswell, CEO of CAT, commented, "We are delighted with the rapid initial success of our collaborative alliance with HGS. Together we have demonstrated that two companies committed to fully human antibody drug development can rapidly create new drugs. Our collaboration reflects a shared philosophy that high throughput functional screening is the most successful way to identify antibody-based drugs directed to genomics-derived targets. The combined approach of phage display library selection and functional screening of leads, both in high throughput, maximises the likelihood of successfully isolating an antibody drug candidate, in marked contrast to the generation of antibodies by immunisation. The success of the BLyS program, and the decision by HGS to commit to us as their exclusive partner for BLyS antibodies so soon, is a strong endorsement of CAT's integrated technology approach." William A. Haseltine, PhD, Chairman and Chief Executive Officer of Human Genome Sciences said, "We are fortunate to have strong working relationships with our collaborators. We are very pleased that this collaboration has produced several antibody drug candidates, that may be useful to patients suffering from autoimmune disorders and B cell lymphomas, so quickly." Notes to Editors: Cambridge Antibody Technology (LSE:CAT) CAT is a UK biotechnology company using its proprietary technologies in fully human monoclonal antibodies for drug discovery and drug development. Based in Melbourn, 10 miles south of Cambridge, England, CAT currently employs around 180 people. CAT is listed on the London Stock Exchange, having raised #41m in its IPO in March 1997. A secondary offering in March 2000 raised #93m. CAT has a world-leading platform technology for rapidly isolating fully human monoclonal antibodies using phage display systems. CAT has an extensive phage display antibody library, currently incorporating around 100 billion distinct antibodies. This library forms the basis for the company's strategy to develop a portfolio of clinical development programs and for discovering new drug leads using functional genomics. Four fully human therapeutic antibodies developed by CAT are at various stages of clinical trials. CAT has a number of license and collaborative agreements in place with pharmaceutical and biotechnology companies including: AstraZeneca, BASF Pharma, Eli Lilly, Genentech, Genetics Institute, Genzyme General, Human Genome Sciences, ICOS Corporation, Oxford GlycoSciences, Pharmacia Corporation, Pfizer, Wyeth-Ayerst. Human Genome Sciences Human Genome Sciences is a company with the mission to treat and cure disease by bringing new gene-based drugs to patients. HGS and Human Genome Sciences are registered trademarks of Human Genome Sciences, Inc. Neoplastic: Cancerous in nature. Autoimmune disorder: A disease arising when the immune system mistakenly recognises the body's own tissue as foreign and attacks it. BLyS BLyS stimulates immune system cells called B cells to mature into plasma B cells, which produce antibodies. Plasma B cells, and the antibodies they produce, constitute a critical part of the body's defence against infections and cancer. The discovery of BLyS may lead to therapies for several diseases that involve B cells, including immune deficiencies, autoimmune disease and B cell tumours. HGS's drug development teams are advancing several therapeutic concepts based on the discovery of BLyS: BLyS therapeutic protein, anti-BLyS and radiolabeled BLyS. BLyS is made by immune-cells called monocytes and macrophages. When monocytes and macrophages are activated, BLyS is released and binds to a receptor found only on B cells. B cells arise from stem cells that do not themselves produce antibodies. When BLyS binds to its receptor on B cells, they mature into antibody-secreting plasma B cells. As a result, the number of antibodies in the patient's plasma increases. When antibodies recognise foreign molecules, immune-cells target the molecules for destruction. Without plasma B cells and antibodies, the body is largely unprotected against pathogens, and infectious diseases may follow.
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