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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 4710p CAMBRIDGE ANTIBODY TECHNOLOGY GROUP PLC 28 June 1999 For Further Information Contact: Cambridge Antibody Technology Group plc Dr David Chiswell, Chief Executive Officer Tel: +44 (0) 1763 263233 John Aston, Finance Director Diane Mellett, Company Secretary/VP Legal Affairs Rowena Gardner, Communications Manager HCC.De Facto City/Financial, Sue Charles Tel: +44 (0) 171 496 3300 Trade/Science, Andrew Worsfold CAT ANNOUNCES SETTLEMENT OF US PATENT INTERFERENCES Melbourn, UK Cambridge Antibody Technology ("CAT") announces that it has entered into a settlement agreement with The Scripps Research Institute and Stratagene, relating to US patent interferences covering patent applications in the US owned by the Medical Research Council and licensed to CAT concerning antibody gene libraries (the "Winter II" patents) and patent applications of Scripps/Stratagene in the same area (the "Scripps/Stratagene" patents). Under the terms of the settlement the parties have agreed that all the above patent applications will be co-owned by the MRC, Scripps and Stratagene. The parties have agreed that CAT will be the sole exploiter of all the parties' intellectual property rights arising under both the Winter II and the Scripps/Stratagene patent applications subject to certain rights reserved by the MRC, Scripps and Stratagene and their pre-existing licensees. The parties have informed the US Patent Office that a settlement has been reached. This means that the interference action will be terminated and that patents relating to the Scripps/Stratagene and Winter II applications should be issued in due course in the US. The consideration payable by CAT under the settlement agreement to Scripps/Stratagene amounts to $1.25 million (#790,875). Of this $250,000 and $500,000 are payable immediately in cash and CAT shares respectively; a further $250,000 is payable after by 31st December 1999 in cash or shares at CAT's option, and a further $250,000 is payable subject to certain licence revenue targets being met or after three years (whichever is the later) again in cash or shares at CAT's option. The price of the shares in each case is being set on the basis of an average of the closing daily prices over a period prior to the agreement date. In addition there are royalty sharing arrangements between the co-owners which do not alter CAT's current royalty obligations. Notes to editors: 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 150 people. In March 1997, CAT completed its initial public offering and listing on the London Stock Exchange, raising approximately #41 million. 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 programmes and for discovering new drug leads using functional genomics. The first two antibody products it developed started clinical trials in 1997, in inflammation and fibrosis. CAT has a number of license and collaborative agreements in place with pharmaceutical and biotechnology companies including Eli Lilly, Pfizer, BASF Pharma, Genentech, ICOS Corporation, Genetics Institute/BASF Pharma and Wyeth-Ayerst. MRC MRC is the Medical Research Council of Great Britain. The settlement does not alter CAT's pre-existing agreement with the MRC and the degree of exclusivity which CAT enjoys in its License Agreement with the MRC will be maintained as will the scope of the MRC's rights under the Agreement. END MSCAILFTREITFAA
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