CATCo Regulatory News (CAT)

25 Jan 2006 15:01

Cambridge Antibody Tech Group PLC25 January 2006 06/CAT/01 FOR IMMEDIATE RELEASE 15.00 GMT Wednesday 25 January 2006 For further information contact:Cambridge Antibody Technology Weber Shandwick Square Mile (Europe)Tel: +44 (0) 1223 471 471 Tel: +44 (0) 20 7067 0700Peter Chambre, Chief Executive Officer Kevin SmithJohn Aston, Chief Financial Officer Yvonne AlexanderRowena Gardner, Director of Corporate Rachel TaylorCommunications BMC Communications/The Trout Group (USA) Tel: 001 212 477 9007 Brad Miles, ext 17 (media) Brandon Lewis, ext 15 (investors) CAMBRIDGE ANTIBODY TECHNOLOGY REPORTS HUMIRA(R) SALES EXCEED $1 BILLION INANNUAL SALES Cambridge, UK: Cambridge Antibody Technology (CAT) (LSE: CAT; NASDAQ: CATG)acknowledges todays announcement by Abbott Laboratories that HUMIRA(R) worldwidesales for 2005 were $1.4 billion, exceeding Abbotts prior forecast of more than$1.3 billion and making it the first product from the UK biotechnology industryto achieve blockbuster status. Abbott stated that it expects worldwide sales ofHUMIRA in 2006 of more than $1.9 billion. HUMIRA was isolated and optimised by CAT in collaboration with and Abbott.Abbott owns exclusive worldwide rights to HUMIRA and CAT receives royaltypayments based on HUMIRA sales at the rate of 2.688%. Peter Chambre, CATs Chief Executive Officer commented: This is a major milestonefor CAT. HUMIRA is an important product candidate for CAT and we are delightedthat it has reached blockbuster status. The success of HUMIRA is vital to CATsprogress as a product-based biopharmaceutical business and we look forward tofurther success in 2006 as Abbott continues to expand the range of approvedindications. Notes to Editors: Blockbuster Status Defined as having annual sales in excess of $1 billion. CAT Business: CAT is a biopharmaceutical company, aiming to bring improvements to seriouslyill patients lives and thereby create outstanding returns for shareholders. CATseeks to develop products independently and in collaboration with partners,using its capabilities and technologies in the discovery and development of newand innovative antibody medicines in selected therapeutic areas. CAT also seeksto licence its technologies to enable others to develop new medicines. Products: HUMIRA(R), licensed to Abbott, is the first CAT-derived antibody to be approvedfor marketing. It was isolated and optimised in collaboration with Abbott andhas been approved for marketing as a treatment for rheumatoid arthritis (RA) in57 countries, and for psoriatic arthritis and early RA in some Europeancountries and the US. 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. Collaborations: CAT has a broad collaboration with Genzyme for the development andcommercialisation of antibodies directed against TGF beta, a family of proteinsassociated with fibrosis and scarring, and with potential application in thetreatment of some cancers. CAT has a major strategic alliance with AstraZeneca to discover and develophuman antibody therapeutics, principally in inflammatory disorders. Thisprovides CAT with the opportunity to build a substantial pipeline of antibodytherapeutics with a significant pharmaceutical partner. CAT has a co-development collaboration with Amrad against GM-CSF Receptor, apotential drug target in the development of RA. 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. Business Background: CAT is based near Cambridge, UK, with a new site in Palo Alto, USA. CATcurrently employs around 290 people. CAT is listed on the London Stock Exchange (CAT) and on NASDAQ (CATG). 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 ("CAT") that are forward looking statements. All statementsother than statements of historical facts included in this press release may beforward looking statements within the meaning of Section 21E of the SecuritiesExchange Act of 1934. These forward looking statements are based on numerousassumptions regarding the companys present and future business strategies andthe environment in which the company will operate in the future. Certain factorsthat could cause the companys actual results, performance or achievements todiffer materially from those in the forward looking statements include: marketconditions, CATs ability to enter into and maintain collaborative arrangements,success of product candidates in clinical trials, regulatory developments andcompetition. We caution investors not to place undue reliance on the forwardlooking statements contained in this press release. These statements speak onlyas of the date of this press release, and we undertake no obligation to updateor revise the statements. 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