STOCKHOLM, SWEDEN--(Marketwire - March 24, 2009) -
New Technology Broadens Opportunities in Biopharmaceuticals
STOCKHOLM, Sweden - March 24, 2009. Biovitrum AB (publ) (STO: BVT)
today signed a collaboration agreement with Affibody AB with the aim
of developing new targeted therapeutics for inflammation and
Through the collaboration Biovitrum gains access to the proprietary
technology platforms of Affibody® molecules, as well as the unique
albumin-binding technology for pharmaceuticals development. Affibody®
molecules are small stable proteins that can have the same effects as
large proteins, and in addition have potential efficacy, safety,
administration route and price benefits. The albumin-binding
technology is designed to enhance the efficacy of biopharmaceuticals
by extending their circulatory half-life.
The agreement consists of a defined protein target development
collaboration and a product license agreement. Costs associated with
the collaboration will be absorbed within Biovitrum's capped running
"This innovative technology is a strong addition to Biovitrum's
biopharmaceuticals and process capabilities. Moreover, the
collaboration fits perfectly with our specialist indication focus and
strategy", says Peter Edman, CSO of Biovitrum.
"This collaboration with Biovitrum represents an important step in
Affibody's efforts to become profitable within the coming two years",
says David Bejker, President and CEO of Affibody, "It is the first
collaboration with our novel biopharmaceutical concept, based on the
Second Generation Affibody® molecules and the Second Generation of
our albumin binding technology. We believe that Biovitrum is an ideal
partner for the development and commercialization of products based
on our technology platforms."
Biovitrum is a Swedish pharmaceutical company. The company markets a
range of specialist pharmaceuticals internationally. Using its
expertise and experience Biovitrum takes scientific innovation all
the way to the market and to specialist indication patients with
significant medical need. Research expertise and capabilities are
focused on development and production of biotechnology therapeutics
within our prioritized areas of hemophilia, inflammation/autoimmune
diseases and malabsorption. The company has revenues of approximately
SEK 1.1 billion and around 400 employees. It is listed on the OMX
Nordic Exchange in Stockholm. For more information visit:
Affibody is a Swedish biotech company focused on developing next
generation products for therapy, diagnostic imaging, and other
applications based on its unique proprietary technology platforms:
Affibody® molecules and albumin binding technology.
Affibody® molecules, which are small, robust and easily produced, can
be designed to bind specifically to a large number of target
proteins. They have a broad range of applications including protein
purification, enzyme inhibition, research reagents for protein
capture and detection, diagnostics, including molecular imaging, and
Affibody is also commercializing its unique albumin binding
technology designed to enhance the efficacy of biotherapeutics by
extending their circulation time.
Affibody has already developed biotechnological products that are
commercialized by GE, Agilent and Finnzymes, and is developing
Affibody® molecules for further biotechnology applications in a
number of commercial collaborations.
Affibody was founded in 1998 by researchers from the Royal Institute
of Technology and the Karolinska Institute and is based in Stockholm,
Sweden. Major shareholders in the Company include the investment
companies HealthCap, Investor Growth Capital and SV Life Sciences.
Further information can be found at: www.affibody.com.
For more information please contact:
Peter Edman, CSO of Biovitrum
Cell phone: +46 70 586 20 30
Erik Kinnman, VP Investor Relations
Cell phone: +46 73 422 15 40
David Bejker, CEO
Cell phone: +46 706 454 948
Johan Stuart, CFO
Cell phone: +46 706 644 096
Biovitrum AB (publ) may be required to disclose the information
provided herein pursuant to the Swedish Securities Markets Act. The
information was provided for public release on March 24, 2009 at 8:30
This announcement was originally distributed by Hugin. The issuer is
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Copyright © Hugin AS 2009. All rights reserved.