Therapeutic Antibodi - Agreement Signed
21 May 1998 - 5:31PM
UK Regulatory
RNS No 8169a
THERAPEUTIC ANTIBODIES INC
21st May 1998
THERAPEUTIC ANTIBODIES INC AND G. D. SEARLE & COMPANY
SIGN AGREEMENT TO COMMERCIALIZE NEW ANTIBODY BASED DRUG
London, 21 May 1998 - Therapeutic Antibodies Inc ("TAb") and G. D. Searle & Co.
("Searle"), the pharmaceutical division of Monsanto Co. ("Monsanto"), today
announced the signing of a research collaboration for the identification,
development and commercialization of a new antibody based drug.
Under the terms of the agreement, TAb will be responsible for
the development, manufacture and registration of a polyclonal
antibody for a target indication nominated by Searle.
Under the agreement, Searle forecasts paying TAb US$8 million
for research and development payments and product supplies
based on achieving certain milestones. The first milestone
payment of US$1 million was payable upon signing. TAb will be
responsible for the ongoing supply of product, while Searle
anticipates holding worldwide marketing rights. Revenues from
successful commercialization of the product will be shared
between the companies.
Therapeutic Antibodies specializes in the research,
development, manufacture and regulatory approval of highly
purified ovine polyclonal antibody products. It has a product
development team that can rapidly develop new antibodies,
scale up manufacturing and present a comprehensive dossier to
regulatory authorities.
Dr. Andrew Heath, Chief Executive Officer of TAb said:
"We are delighted to have been chosen by Searle as their
partner for this exciting opportunity. We believe that this
agreement represents a significant endorsement of our platform
technology and development capabilities. It is the strength
of our technology platform which enables us to create and
introduce a variety of new therapeutic products in a
relatively short time."
Dr. Phillip Needleman, Co-President, Searle and Chief
Scientist, Monsanto said:
"TAb was selected from a broad field of antibody specialty
companies as having the speed and development capability for
the commercialization of an antibody based product nominated
by Searle."
Enquiries:
TAb
Andrew Heath 001 615 327 1027
A.J. Kazimi
Cindy Miller
Searle
Jack Domeischel 001 847 470 6720
Monsanto
Lori Fisher 001 314 694 8535
Brunswick
Frank De Maria +44 (0)171 404 5959
Stephen Breslin
Notes to Editors:
Therapeutic Antibodies Inc.
Therapeutic Antibodies is an international biopharmaceutical
company specializing in research, development and production
of highly-purified polyclonal antibodies for treatment of
diseases and other life-threatening conditions for which
satisfactory therapies have generally not previously existed.
TAb is headquartered in Nashville, Tennessee, adjacent to the
Vanderbilt University Medical Center. The Company's research
laboratories are located at the Medical College of St.
Bartholomew's Hospital in London. TAb's products are
manufactured at the Company's production facilities in the
U.K. and Australia for worldwide distribution. The Company's
common stock is listed on the London Stock Exchange.
An electronic version of this news release, as well as
additional information about Therapeutic Antibodies Inc, is
available at http://www.tab.co.uk on the Company's home page.
G. D. Searle & Company
Searle, the pharmaceutical division of Monsanto Company,
researches and develops pharmaceutical products and other
healthcare solutions worldwide. As part of its mission to
bring to market innovative, value-added products that satisfy
unmet medical needs, Searle focuses its expertise on five key
therapeutic areas: cardiovascular disease, arthritis, sleep
disorders, cancer and women's health.
END
MSCGRGBUCBDCCIB
Becket Invest (LSE:TAB)
Historical Stock Chart
From Jan 2025 to Feb 2025
Becket Invest (LSE:TAB)
Historical Stock Chart
From Feb 2024 to Feb 2025
