BTG Licenses New Class of Psychiatric Drugs to Abiogen Pharma S.p.A.Business Editors/Health/Medical Writers LONDON--(BUSINESS WIRE)--July 23, 2003 BTG BTG BIT (Built-In Test) Target Generator BTG Bridging the Gap BTG British Technology Group BtG Betreuungsgesetz (Germany) BTG Biomass Technology Group BV BTG Begbies Traynor Group plc (LSE LSE - Language Sensitive Editor : BGC BGC General Cable Corporation (stock symbol) BGC Billy Graham Center BGC Baptist General Conference (formerly Swedish Baptist Denomination) BGC Boys & Girls Club BGC Bubblegum Crisis ), the global technology commercialization company, today announced it has exclusively licensed to Abiogen Pharma S.p.A the worldwide intellectual property rights (IPR) to two compounds with the potential to treat anxiety and depression. Abiogen Pharma S.p.A is a private Italian company with a track record of innovative biotechnology and pharmaceutical research. BTG will receive GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 2 million in upfront payments as well as significant pre-agreed development milestone payments and royalties on net sales. In 2001, the global antidepressants and anxiety market accounted for 44% of the $40 billion Central Nervous System market(1). These compounds are the first in a new class of non-sedating, non-addictive drugs to treat anxiety and depression. BTG 1640, which recently entered Phase I clinical trials at Abiogen, is being developed to treat clinical anxiety states such as panic disorder. BTG 1675A, in pre-clinical phase, has been shown additionally to have potential as an antidepressant. Worldwide, more than 490 million people are affected by anxiety(1). Current medications can be slow to take effect or may be addictive and patients may develop withdrawal reactions upon stopping treatment. BTG acquired the IPR to these compounds, together with several other molecules from the Universities of Bradford, Reading, Southampton and Sussex in the UK. BTG 1640 and BTG 1675A were selected as lead candidates due to their promising pharmacological activity in pre-clinical evaluation. Commenting on the agreement, Anthony V. Lando, Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of BTG, said: "BTG has a strong track record in identifying novel pharmaceuticals, helping build them into attractive opportunities through patent management and technical development and then marketing them to the pharmaceutical industry. We are pleased that Abiogen has chosen to develop BTG 1640 and BTG 1675A for these important medical conditions." About BTG BTG finds, develops and commercializes emerging technologies in the life and physical sciences. These innovations are protected by a strong portfolio of intellectual property that BTG develops and enhances. BTG then captures the value in these technologies through licensing and venturing activities. From the origins of its business in 1949, BTG has commercialized major innovations such as Magnetic Resonance Imaging magnetic resonance imaging (MRI), noninvasive diagnostic technique that uses nuclear magnetic resonance to produce cross-sectional images of organs and other internal body structures. (MRI 1. (application) MRI - Magnetic Resonance Imaging. 2. MRI - Measurement Requirements and Interface. ), recombinant factor IX blood-clotting protein, Campath(R) (alemtuzumab) and Multilevel Cell (MLC (MultiLevel Cell) A flash memory technology that stores more than one bit per cell. Traditional flash memory defines a 0 or 1 bit based on a single voltage threshold. ) memory. BTG is quoted on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. under the symbol "BGC" and operates from offices in London and Philadelphia, with representation in Tokyo. BTG operates through wholly owned subsidiaries, BTG International Ltd. and BTG International Inc. in the UK and USA, respectively. Further information on BTG can be found at www.btgplc.com. Further information on Abiogen Pharma S.p.A can be found at www.abiogen.com. (1)UBS Warburg LLC 2001 |
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