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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 No 8290p CAMBRIDGE ANTIBODY TECHNOLOGY GROUP PLC 23rd March 1998 CAMBRIDGE ANTIBODY TECHNOLOGY AND PROGENITOR FORM BROAD GENE-TO-CLINIC COLLABORATION Deal Involves Rapid Discovery and Development of Novel Drug Targets using Antibody-Based Functional Genomics Melbourn, UK and Menlo Park, CA -- Cambridge Antibody Technology Group plc (LSE: CAT) and Progenitor, Inc. (Nasdaq: PGEN, PGENW) today announced that they have entered into a broad collaboration that allows both companies to accelerate their respective product development programs by sharing elements of each other's technologies. Progenitor will give CAT access to novel genes as targets for antibody-based therapeutics, while CAT will provide Progenitor with powerful new antibody-based functional genomics tools to characterize its gene discoveries from its own programs. Under the terms of the collaboration agreement, Progenitor will initially supply CAT with a diverse and extensive portfolio of molecular targets from its gene discovery programs in asthma, inflammation, hematopoiesis (blood cell formation), and angiogenesis (blood vessel formation) related to cancer and cardiovascular disorders. CAT will develop target-specific antibodies, which the companies will use to evaluate the function and validate the therapeutic significance of these genomic targets. CAT and Progenitor will bear their own costs for each joint research program undertaken, and the two companies will share data and intellectual property. CAT will have the first right to develop and commercialize antibody-based products and Progenitor will have the first right to develop and commercialize non-antibody-based products. The parties will pay each other certain late-stage milestone and royalty payments. CAT will also develop antibody reagents for additional Progenitor proprietary gene discoveries and for protein expression profiling of these genes. The companies together will determine whether to undertake further joint research programs relating to these additional Progenitor targets. "We believe that CAT's ProAb(TM) and ProxiMol(TM) technologies in the field of functional genomics, combined with Progenitor's expertise in developmental biology and disease genetics, provide a valuable source of novel gene targets and biological information to fuel product opportunities for both companies," said David Chiswell, Ph.D., Chief Executive Officer of CAT. "We believe that CAT's platform offers the fastest route from gene to therapeutic products." CAT's proprietary antibody engineering technologies enable rapid development of human monoclonal antibodies with specific properties. The agreement provides both companies multiple product development opportunities through joint research programs and the exchange of certain biological and clinical information, intellectual property and expertise. "This collaboration greatly expands our functional genomics capabilities, and provides an unprecedented opportunity to move numerous gene discoveries quickly through target validation and into drug development programs. The agreement also creates for us multiple royalty opportunities in human therapeutic antibodies, a product category that we otherwise may not have pursued at this time," said Douglass B. Given, M.D., Ph.D, President and Chief Executive Officer of Progenitor. In addition, the companies announced that they have initiated a jointly owned program to develop and commercialize novel antibody-based therapeutics using Progenitor's 'leptin receptor' gene discovery. The leptin receptor has been recognized as an important target for the development of new treatments for obesity, diabetes and other disorders. Progenitor and CAT will jointly conduct the leptin receptor program and will share equally all program costs and revenues. "CAT is the ideal partner for exploiting the therapeutic rights we retained in an earlier leptin receptor license agreement," said Progenitor's Dr Given. "We fully intend to explore all possible applications of this important asset." For further information, please contact: Cambridge Antibody Technology 01763 263 233 David Chiswell Chief Executive Officer John Aston Finance Director Progenitor Inc 001 650 614 7005 Douglass B. Given President & Chief Executive Officer HCC De Facto Financial 0171 957 4600 Nicola How HCC De Facto Cambridge 01223 518 093 Andrew Worsfold Notes for Editors : Cambridge Antibody Technology Group plc CAT is a UK biotechnology company with a world-leading technology for the rapid isolation of human monoclonal antibodies. CAT is using this technology platform to develop a broad portfolio of antibody-based human therapeutic products. The technology has further application as a drug discovery tool, particularly in functional genomics. The first two antibody products developed by CAT started clinical trials in 1997, in inflammation and fibrosis. CAT plans to develop a portfolio of clinical development programmes with the objective of initiating three to four clinical programmes per year from the year 2000. CAT has entered into a number of licence and collaborative agreements with pharmaceutical and biotechnology companies. These include: ICOS, Genentech, Pfizer, Eli Lilly, Knoll (BASF), Knoll (BASF)/Genetics Institute, Mitsubishi Chemical, Techniclone and ObeSys. CAT is based on the Melbourn Science Park, 10 miles south of Cambridge, England and currently employs over 120 people, many of whom are PhD scientists. In March 1997 CAT completed its initial public offering and listing on the London Stock Exchange raising approximately #41 million. The speed and capacity of CAT's platform technology make it particularly valuable in the field of functional genomics, in which biological meaning is extracted from the mass of raw sequence data being created by research into the human genome. In the last year, the CAT(TM) Library has more than quadrupled in size and now incorporates over 67 billion distinct antibodies. The quality of CAT's antibody phage libraries underpins both its functional genomics and product development strategies. ProAb(TM) and ProxiMol(TM) are new technologies developed by CAT. ProAb(TM) is the name given to a proprietary approach to building a database of information on the biological and disease relevance of novel genes. In the same way that genomics companies can sequence every gene in the human genome, CAT can select antibodies against the protein or peptide encoded by each and every gene and partial gene sequence. The ProAb(TM) approach is to screen such antibody probes against a panel of normal and diseased tissues, in a high-throughput manner, identifying disease associated proteins - "guilt-by-association". This allows CAT researchers to focus resources on those protein targets, out of the many thousands listed in genomics databases that have relevance in a particular disease state. ProxiMol(TM) is so called because it identifies antibodies that bind to other molecules in close proximity to an original protein target. It is used for orphan ligand or receptor matching, elucidation of novel protein - protein interactions, and for identifying the functional epitopes of a protein target. Progenitor, Inc Progenitor discovers and develops genomic leads and targets for new pharmaceuticals using a unique technology platform that combines developmental biology and disease genetics to identify, characterize and utilize key genes responsible for health or disease. Progenitor's genomic discoveries provide multiple product opportunities which the company pursues through a combination of partnerships, licenses and retained rights for internal product development programs. END MSCALLFIVRILFAT
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