Lilly and Cambridge Antibody Technology enter into a collaborative agreement involving antibody-based therapeutics.INDIANAPOLIS--(HealthWire)--Jan. 8, 1997--Eli Lilly and Company (NYSE NYSE See: New York Stock Exchange : LLY) and Cambridge Antibody Technology (CaT) announced today that they have entered into a collaborative agreement. Under the terms of the agreement, Lilly will receive a license to CaT's large human single-chain antibody libraries and associated technologies for research purposes. Lilly will also receive options to develop select antibody-based therapeutics therapeutics Treatment and care to combat disease or alleviate pain or injury. Its tools include drugs, surgery, radiation therapy, mechanical devices, diet, and psychiatry. and diagnostics (1) Software routines that test hardware components (memory, keyboard, disks, etc.). Diagnostics are often stored in ROM chips and activated on startup. (2) Error messages in a programmer's source code that refer to statements or syntax that the compiler or assembler . CaT will receive upfront license fees and could receive additional fees, milestone payments and royalties on products that may result from the collaboration Working together on a project. See collaborative software. . CaT will also receive rights to develop antibody-based therapeutics to certain selected targets provided by Lilly. As part of the agreement, Lilly will make an equity investment in CaT. "Our collaboration with Cambridge Antibody Technology is another important addition to the growing network of discovery alliances being built by Lilly," said August M. Watanabe, M.D., Lilly executive vice president, science and technology. "This investment gives Lilly access to key technology that will be used widely in many of our drug discovery programs." "This collaboration with Lilly is an important validation See validate. validation - The stage in the software life-cycle at the end of the development process where software is evaluated to ensure that it complies with the requirements. of CaT's technology as a drug discovery tool, particularly in the field of genomics, and of CaT's strategy of gaining rights to targets of potential therapeutic interest in order to expand its research and development portfolio," Dr. David Chiswell, chief executive officer of CaT, commented. CaT's foundation is a world-leading platform technology for the rapid isolation of human monoclonal antibodies This is a list of monoclonal antibodies, antibodies which are clones of a single parent cell. When used as medications, the generic names end in -mab (see "Nomenclature of monoclonal antibodies"). to virtually any target. This technology has applications as a drug discovery tool where its speed and capacity makes it particularly valuable in the field of genomics and in the development of antibody-based human therapeutic products. The company enjoys strong ties with the Medical Research Council in the U.K., and in addition to this alliance with Lilly, CaT has also established a number of other strategic relationships with a range of global pharmaceutical companies. Lilly is a global research-based pharmaceutical corporation headquartered in Indianapolis, Ind IND Investigational new drug Therapeutics A status assigned by the FDA to a drug before allowing its use in humans, exempting it from premarketing approval requirements so that experimental clinical trials may be conducted. See Phase 1.2, 3 studies, Sponsorship. ., that is dedicated to creating and delivering innovative pharmaceutical-based health care solutions which enable people to live longer, healthier, and more active lives. CONTACT: Eli Lilly and Company Eli Lilly and Company (NYSE: LLY) is a global pharmaceutical company and one of the world's largest corporations. Eli Lilly's global headquarters is located in Indianapolis, Indiana, in the United States. James P. Kappel, 317/276-5795 or Cambridge Antibody Dr. David Chiswell, +44 (0)1763 263 233 |
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