CALIFORNIA BIOTECHNOLOGY ACQUIRES NOVEL GROWTH FACTOR TO EXPAND TISSUE REPAIR PORTFOLIO
CALIFORNIA BIOTECHNOLOGY ACQUIRES NOVEL GROWTH
FACTOR TO EXPAND TISSUE REPAIR PORTFOLIO
MOUNTAIN VIEW, CA -- November 12, 1991 -- California Biotechnology Inc. (NASDAQ: CBIO) today announced that the company has acquired from Children's Hospital of Boston exclusive worldwide rights to a novel growth factor that is believed to have significant potential as a treatment for various gastrointestinal and lung disorders. The growth factor, called HB-EGF or heparin binding epidermal growth factor-like growth factor, has therapeutic promise based on its activity in promoting the growth of cells of the type that line the gut and lung (epithelial cells).
"HB-EGF expands Cal Bio's tissue repair portfolio by enabling us to target conditions where current therapies are extremely limited," commented Richard L. Casey, Cal Bio president and chief executive officer. "Research to date with HB-EGF suggests a role for this protein in the repair of certain tissues, particularly epithelial and smooth muscle. Based on this encouraging data, we recently intensified our preclinical development efforts for HB-EGF. HB-EGF is precisely the kind of new product opportunity that our recent financing permits us to pursue aggressively."
HB-EGF was first identified by researchers at Children's Hospital led by Dr. Michael Klagsbrun, associate professor in the Departments of Surgical Research, Children's Hospital and Biological Chemistry and Molecular Pharmacology at Harvard Medical School. Clones encoding HB-EGF were obtained in a collaboration between Klagsbrun's group and scientists at Cal Bio. The initial research on HB-EGF was published in the journal Science, in February 1991. Subsequent studies suggest that HB-EGF may have application to a wide range of disorders where epithelial cell layers are damaged, including ulcerative colitis, gastroesophageal reflux disease and adult respiratory distress syndrome.
Under the agreement, Cal Bio will support additional research by Klagsbrun to further characterize HB-EGF and its role in tissue repair. Patents have been filed on HB-EGF and Cal Bio will hold the rights to any of these patents that issue worldwide.
California Biotechnology Inc. is a biotechnology company engaged in the discovery, development, and commercialization of novel human therapeutics. Cal Bio focuses its efforts in three areas -- cardiopulmonary diseases, tissue repair, and metabolic disorders. The company develops and commercializes products on a proprietary basis and in collaboration with established pharmaceutical companies.
/CONTACT: Virginia Walker of Cal Bio, 415-940-6631, or 415-966-1550; or Robert Gottlieb of Feinstein Partners, 617-577-8110, for Cal Bio/
(CBIO) CO: California Biotechnology Inc. ST: California IN: MTC SU: TB -- SJ001 -- 3349 11/12/91 10:00 EST