CATCo Regulatory News (CAT)

22 Jun 2006 11:31

Cambridge Antibody Tech Group PLC22 June 2006 06/CAT/07 FOR IMMEDIATE RELEASE 11.30 BST 04.30 EST Thursday 22 June 2006 For Further Information Contact: Hogarth Partnership (Europe)Cambridge Antibody Technology Tel: +44 (0) 20 7357 9477Tel: +44 (0) 1223 471 471 Chris MatthewsHamish Cameron, Chief Executive Melanie Toyne-SewellRowena Gardner, Director of Corporate Andrew JacquesCommunications BMC Communications (US) Tel: 001 212 477 9007 Brad Miles, ext 17 (media) CAMBRIDGE ANTIBODY TECHNOLOGY APPOINTS NEW CHIEF EXECUTIVE Cambridge, UK - As announced this morning by AstraZeneca, its recommended offerto acquire Cambridge Antibody Technology (LSE: CAT, NASDAQ: CATG) has beendeclared unconditional. The CAT Group of Companies will now form part of theAstraZeneca group of companies and CAT is pleased to announce that Dr HamishCameron has been appointed as a Director and Chief Executive of CAT Limited,with immediate effect. Dr Cameron, a physician by training, joins CAT following a number of senior R&Dappointments in AstraZeneca, including Head of the Cardiovascular Therapy Areaand Head of Medical Research, in the 20 years he has been with the company. Heis a Fellow and past Board member of the Faculty of Pharmaceutical Medicine. Dr John Patterson, Executive Director of Development at AstraZeneca andChairman of the new CAT Limited Board, commented We are delighted that theacquisition of CAT has been completed and are pleased to have appointed HamishCameron to the post of Chief Executive. The acquisition of CAT indicates ourintention of growing a leading biopharmaceuticals capability in AstraZeneca, ledfrom CAT in Cambridge, which combines the biologics discovery and earlydevelopment of CAT with AstraZenecas global discovery, development and marketingexpertise. The biopharmaceuticals capability will be distinct from, butcomplementary to, AstraZenecas small molecule franchise. Hamish Cameron, CATs new Chief Executive, commented I am excited by theopportunity at CAT and am very much looking forward to leading the company as itsets out on the next part of its journey as a member of the AstraZeneca group.CAT is a distinctive and successful biopharmaceuticals company and, nowsupported by AstraZeneca, it will be able to utilise its expertise across allAstraZenecas Therapy Areas as well as to develop its technology platform beyondits current capabilities. In this way AstraZeneca, with CAT, aims to delivervaluable new medicines to improve patient care in a number of significantdisease areas. AstraZenecas acquisition of CAT is a great endorsement of theachievements of CAT and its staff, and a significant boost to the Cambridge areaand the UK biotechnology industry. -ENDS- Notes to Editors: Cambridge Antibody Technology (CAT) Business: CAT is a biopharmaceutical company using its proprietary technologies in humanmonoclonal antibodies for drug discovery and drug development; it is asubsidiary of the AstraZeneca group of companies. Based near Cambridge, UK and it Palo Alto, USA, CAT currently employs around 300people. CAT is currently listed on the London Stock Exchange and on NASDAQ but will bede-listed over the next few weeks. Products: HUMIRA, licensed to Abbott, is the first CAT-derived antibody to be approved formarketing. It was isolated and optimised in collaboration with Abbott and hasbeen approved for marketing as a treatment for rheumatoid arthritis (RA) in 57countries, for psoriatic arthritis and early RA in some European countries andthe US, and for ankylosing spondylitis in some European countries. There are six further CAT-derived antibodies licensed to partners at variousstages of clinical development: ABT-874 (Abbott), LymphoStat-B(TM), HGS-ETR1,HGS-ETR2, ABthrax(TM) (all Human Genome Sciences (HGSI)) and MYO-029 (Wyeth).CAT has also licensed its proprietary technologies and patents to severalcompanies. CATs licensees include Amgen, Chugai, Dyax, Genzyme, HGSI, Merck &Co, Micromet, Pfizer and Wyeth, and three antibody drug candidates are inclinical development at patent licensees. There are three further human therapeutic product candidates in clinicaldevelopment: CAT-354 and CAT-3888, proprietary CAT products, and GC-1008, incollaboration with Genzyme. Science: CAT has an advanced proprietary technology for rapidly isolating humanmonoclonal antibodies using Phage Display and Ribosome Display systems. CAT hasextensive phage antibody libraries, currently incorporating more than 100billion distinct antibodies, which form the basis for the Companys strategy todevelop a portfolio of antibody-based drugs. More information can be found at www.cambridgeantibody.com Application of the Safe Harbor of the Private Securities Litigation Reform Actof 1995: This press release contains statements about Cambridge AntibodyTechnology Group plc (OCATO) that are forward looking statements. Allstatements other than statements of historical facts included in this pressrelease may be forward looking statements within the meaning of Section 21E ofthe Securities Exchange Act of 1934. These forward looking statements are based on numerous assumptions regardingCATs present and future business strategies and the environment in which CATwill operate in the future. Certain factors that could cause CATs actualresults, performance or achievements to differ materially from those in theforward looking statements include: market conditions, CATs ability to enterinto and maintain collaborative arrangements, success of product candidates inclinical trials, regulatory developments and competition. AstraZeneca AstraZeneca is a major international healthcare business engaged in theresearch, development, manufacture and marketing of prescription pharmaceuticalsand the supply of healthcare services. It is one of the worlds leadingpharmaceutical companies with healthcare sales of $23.95 billion and leadingpositions in sales of gastrointestinal, cardiovascular, neuroscience,respiratory, oncology and infection products. AstraZeneca is listed in the DowJones Sustainability Index (Global) as well as the FTSE4Good Index. More information can be found www.astrazeneca.com This information is provided by RNS The company news service from the London Stock Exchange