AstraZeneca today announced a five-year research and development alliance with Cambridge Antibody Technology (CAT) in monoclonal antibody research, principally in inflammatory disorders, including respiratory diseases.
AstraZeneca, with its corporate HQ in London, England will pay £75 million in cash for an issue of 10,217,983 new ordinary shares in CAT, representing a 19.9 per cent shareholding. The equity subscription requires approval by CAT shareholders.
The alliance will be co-funded and co-managed by the partners and a minimum of 25 programmes will be initiated during the five-year Discovery phase.
CAT will be principally responsible for antibody discovery, manufacturing process development and the supply of material for exploratory clinical trials.
AstraZeneca will be principally responsible for translational biology, clinical development programmes, regulatory filings and commercialisation. Joint teams will be established to oversee the full discovery and development process.
Peter ChambrÃ©, Chief Executive Officer of CAT, commented “This innovative alliance with a world leader in the field of inflammatory diseases represents a major strategic move by both companies.
“Not only will it enable CAT to deploy its full range of capabilities and expertise in the early stages of product development, but it will also allow us to enhance our capabilities in the later stages and, for the first time, potentially participate in product commercialisation.”
This is the second such research alliance in monoclonal antibodies agreed by AstraZeneca in just over a year. Last October, the company announced a major agreement with Abgenix for monoclonal antibody research in oncology.