Protherics sell CAMD operations for $9.4 million

Protherics plc has announced the sale of its Computer-Aided Molecular Design (CAMD) operations to Tularik Inc in a deal worth approximately US$9.4 million.

Protherics PLC has announced the sale of its Computer-Aided Molecular Design (CAMD) operations to Tularik Inc., a San Francisco based drug discovery company, for 400,000 Tularik shares with a current value of approximately US $9.4 million.

The sale will include the transfer of Protherics’ CAMD technology consisting of its proprietary Prometheus virtual screening software and its VA Linux hardware system.

Existing CAMD research agreements will also transfer to Tularik.

Protherics previously announced its intention to divest its CAMoperations in order to focus on the nearer term potential of its core immunotherapeutics business.

This includes the marketing of its CroFAb rattlesnake antivenom launched last year and the development of its Angiotensin vaccine for the treatment of hypertension.