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Althea Technologies, Inc. Acquires Altus Pharmaceuticals Inc. (ALTU) Assets and IP Portfolio, Establishing Technology Platform for Protein Formulations


5/3/2010 7:07:03 AM

SAN DIEGO, May 2 /PRNewswire/ -- Althea Technologies, Inc., a leading provider of services for biopharmaceutical development and manufacturing announced today that it has acquired the assets and IP portfolio of Altus Pharmaceuticals. The IP portfolio includes, among other things, Altus' Cross Linked Enzyme Crystal (CLEC®) and controlled release injectable technologies. Applications of this protein crystal technology range from therapeutics to protein purification and catalysis. The controlled release injectable technology involves protein crystallization and complexation using customized manufacturing equipment installed at Althea.

Additionally, the assets encompass a portfolio of product candidates based on these technologies which includes a seven day controlled release growth hormone injectable which has completed a phase 2 clinical trial. Althea was the manufacturer of the clinical supplies for this product candidate. Althea plans to enter into licensing discussions for these product candidates.

"We are delighted to acquire this portfolio of technologies which complements our core expertise in protein formulation and will bring added value to our customers' projects," commented Dr. Shabbir Anik, CEO of Althea Technologies. "We expect multiple applications for a broad range of proteins, peptides and vaccines addressing the need for controlled release, high concentration formulations, and stability," he added.

Althea will be exhibiting at the BIO International Convention: Booth #5940.

About Althea Technologies, Inc.

Althea Technologies is a fully integrated, contract development and manufacturing organization that provides services for plasmids, protein biologics and sterile products. Located in San Diego, CA, Althea offers cell banking, process development, cGMP protein & plasmid production, analytical development, formulation development, aseptic filling in vials & prefilled syringes, and lyophilization services for clinical development and commercialization. For more information, visit www.altheatech.com.

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