Last checked at 6 Jan 2009 09:57
Proteome Sciences plc License Agreement in Lung Cancer and Trading Update
6th January, 2009 Proteome Sciences plc has entered into a non-exclusive license agreement with Oncimmune Limited in lung cancer for the use of its Annexin 1 and Annexin 2 autoantibody patents for the fields of diagnosis and for monitoring treatment. It is anticipated that a panel test will be launched in the first half of 2009.
Terms of the license agreement were not disclosed but Proteome Sciences will receive royalties from product sales.
Following the successful launch of TMT® reagents by Thermo Fisher earlier this year, feedback continues to be strongly favourable and the visibility of isobaric mass tagging will become increasingly apparent in revenues.
Proteome Sciences is pleased to announce that it has successfully increased the plexing rates for its TMT® tags, and that 12 and 18-plex TMT® will be available in 2009.
Proteome Sciences continues to make strong progress in other disease applications and is in advanced negotiations to out-license further candidates in its biomarker portfolio in both stroke and Alzheimer's disease and also from ProteoSHOP® services activities. Whilst these are expected to be reflected in revenue, the Board has thought it prudent to agree in principle to increase the loan facility available from the CEO, should it be required.
2008 has been a transformational year for the Company and it looks forward with confidence to further realising its potential in 2009.
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For further information please contact:
Proteome Sciences plc
www.proteomics.com Tel: +44 (0)1932 865065
Christopher Pearce, Chief Executive Officer James Malthouse, Finance Director
Dr. Ian Pike, Chief Business Officer
Public Relations
IKON Associates Coast Communications
Adrian Shaw Matt Baldwin
Tel: +44 (0)1483 535102 Tel: +44 (0)1233 503200
Mobile: +44 (0)797 9900733 Mobile: +44 (0)7930 439739
Email: adrian@ikonassociates.com Email: matt@coastcommunications.com
Nominated AdviserTeathersShaun Dobson / Claes Sp¥ngTel: +44 (0)20 7426 9000Lung Cancer-Background * Most common global cancer * Leading cause of cancer death * US screening population - 71.5m * New cases annually (US) - 213,000 * Annual deaths from lung cancer (US) - 160,390 * 5 year survival rate - 16%
About Proteome Sciences:
Proteome Sciences is a leading biomarker CRO providing protein biomarker discovery, validation and assay development services. The Company's MS Biomarker Assay system (MBA) uses its proprietary isobaric Tandem Mass Tags (TMT®) and reference materials combined with isotope dilution mass spectrometry. Highly multiplexed assays can be developed in weeks and are suitable for screening 10's to 100's of candidate biomarkers in validation studies. Assays for validated biomarkers can be rapidly developed using the same isotope dilution mass spectrometry format, or can be transferred for immunoassay development.
The Company's own research is focused on neurological and neurodegenerative conditions and it has discovered and patented blood biomarkers in stroke and brain damage as well as several cancers, solid organ transplant rejection and Alzheimer's disease. Proteome Sciences is based in Cobham, UK with facilities in London and Frankfurt.
About Oncimmune:
For more information on OncImmune visit www.oncimmune.com or www.oncimmune.co.uk.
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