Biovitrum Completes Divestiture of Cambridge Biotechnology
(Thomson Reuters ONE) - Stockholm, Sweden November 23, 2009 - Biovitrum AB (publ) (STO:BVT)today announced that it has completed the divestiture of itswholly-owned subsidiary Cambridge Biotechnology Ltd (CBT), and thesale of certain drug development programs, to Proximagen Neuroscienceplc (AIM: PRX).The drug development programs consist of the pre-clinical stageprograms VAP-1 and Trk A, as well as two clinical stage programs, the5-HT2c agonist and the 5-HT6 antagonist programs. In return Biovitrumwill receive a share of future revenues generated from the pipeline."We are pleased that CBT along with its promising small-molecularpipeline in important primary care areas will get a new home, as weare focusing on recombinant protein pharmaceuticals in specialistindications. We are convinced that Proximagen will develop theseexciting programs, and leverage their full potential value, for thebenefit of patients with unmet medical needs," said MartinNicklasson, CEO of Biovitrum.About BiovitrumBiovitrum is an international pharmaceutical company that marketsspecialist pharmaceuticals in several regions. Using its expertiseand experience Biovitrum takes scientific innovation to patients withsignificant unmet medical need. Research expertise and capabilitiesare focused on development and production of biotechnologytherapeutics within our prioritized areas of hemophilia,inflammation/autoimmune diseases, cancer supportive care andmalabsorption. The company has revenues of approximately SEK 1.2billion and around 400 employees. The company head office is locatedin Sweden and it is listed on the Stockholm OMX Nordic Exchange. Formore information please visit www.biovitrum.com.For further information, please contactBiovitrum AB (publ)Erik Kinnman, Vice President Investor RelationsPhone: +46 73 422 15 40erik.kinnman(at)biovitrum.comMartin Nicklasson, CEOPhone. +46 8 697 2327Biovitrum AB (publ) may be required to disclose the informationprovided herein pursuant to the Swedish Securities Markets Act. Theinformation was provided for public release on November 24, 2009 at08.05 a.m. CET.http://hugin.info/134557/R/1356801/329863.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 24.11.2009 - 08:06 Uhr
Sprache: Deutsch
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