Abzena PLC PacificGMP Stanford Settlement (6121G)
05 March 2018 - 6:00PM
UK Regulatory
TIDMABZA
RNS Number : 6121G
Abzena PLC
05 March 2018
Abzena plc
Settlement of claim
Cambridge, UK, 5 March 2018 - Abzena plc (AIM: ABZA, 'Abzena' or
the 'Group'), a life sciences group providing services and
technologies to enable development and manufacture of
biopharmaceutical products, announces that a settlement has been
reached with Stanford University ("Stanford") in connection with
the claims against PacificGMP that were the basis for the complaint
filed by Stanford in the Superior Court of the State of California
in the County of San Diego, as announced on 6 August 2017.
As previously announced, since the acquisition of PacificGMP,
$1.5 million has been held in escrow to cover the anticipated costs
to resolve this matter. These funds are expected to be sufficient
to cover the settlement including related costs.
Abzena has already factored any manufacturing work arising from
this settlement into its capacity utilisation plans and therefore
no material impact to its business is anticipated to the operation
of its business.
-Ends-
Enquiries:
Abzena plc
John Burt, Chief Executive
Officer Julian Smith, Chief
Financial Officer +44 1223 903498
Numis (Abzena's Nominated Adviser
and Broker)
Clare Terlouw / James Black +44 20 7260
/ Paul Gillam 1000
N+1 Singer (Abzena's Joint
Broker) +44 20 7496
Aubrey Powell / Liz Yong 3000
Instinctif Partners (Abzena's +44 20 7457
PR advisors) 2020
Melanie Toyne Sewell / Alex abzena@instinctif.com
Shaw
Notes to Editors
About Abzena
Abzena (AIM: ABZA) provides proprietary technologies and
complementary services to enable the development and manufacture of
biopharmaceutical products.
The term 'ABZENA Inside' is used by Abzena to describe products
that have been created using its proprietary technologies and are
being developed by its partners, and include Composite Human
Antibodies(TM) and ThioBridge(TM) Antibody Drug Conjugates (ADCs).
Abzena has the potential to earn future licence fees, milestone
payments and/or royalties on 'ABZENA Inside' products.
Abzena offers the following services and technologies across its
principal sites in Cambridge (UK), San Diego, California (USA) and
Bristol, Pennsylvania (USA):
-- Biology research studies, including immunogenicity assessment
of candidate biopharmaceutical products and bioassay
development;
-- Protein engineering to create humanized antibodies and deimmunised therapeutic proteins;
-- Cell line development for the manufacture of recombinant proteins and antibodies;
-- Contract process development and GMP manufacture of
biopharmaceuticals, including monoclonal antibodies and recombinant
proteins for preclinical and clinical studies;
-- Contract synthetic chemistry and bioconjugation research
services, focused on antibody-drug conjugates (ADCs);
-- Proprietary site-specific conjugation technologies and novel payloads for ADC development;
-- GMP manufacturer of ADC linkers, payloads & combined linker-payloads; and.
-- GMP analytical services for biopharmaceutical manufacturing projects
For more information, please see www.abzena.com
This information is provided by RNS
The company news service from the London Stock Exchange
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