ST. LOUIS and MIDLAND, Mich., Sept. 21 /PRNewswire/ -- Kereos, a biotechnology company developing targeted therapeutics and imaging agents for cancer and cardiovascular disease, and The Dow Chemical Company entered into a licensing agreement to allow both companies access to patent portfolios for the development and commercialization of targeted imaging agents. The agreement is intended to facilitate further development and marketing of novel targeted imaging agents for more accurate diagnosis of cancer and cardiovascular disease.
This agreement builds on an ongoing relationship between Kereos and Dow, including a collaboration announced in April 2003 under a National Cancer Institute contract involving the two companies as well as Royal Philips Electronics and researchers at Washington University in St. Louis and Barnes Jewish Hospital. As part of the April 2003 collaboration, ChelaMedSM radiopharmaceutical services from Dowpharma, a business unit of Dow, has been developing new chelating molecules that can be incorporated in Kereos' targeted imaging agents. This combination can carry high metal ion payloads precisely to tumors and atherosclerotic plaques, making it possible for Kereos to develop effective products for both targeted magnetic resonance imaging (MRI) and targeted nuclear imaging. Under terms of the new licensing agreement, Kereos gains commercial rights to the chelating molecules and to certain chelate technology previously developed by Dow. The agreement also allows Dow to use the molecules created under the collaboration in other applications. Financial terms of the agreement have not been disclosed.
"Our growing relationship with Kereos and the synergies among our technologies and core competencies continues to yield best-in-class novel imaging products for human health," said Nick Hyde, business director, Dowpharma. "We are delighted to be working with Kereos in the rapidly emerging field of molecular imaging that will help to improve the diagnosis and treatment of cancer and cardiovascular disease."
"Dowpharma's leading-edge chelation technologies have helped Kereos to break new ground in targeted imaging agents for cancer and cardiovascular disease diagnosis," said Robert "Al" Beardsley, Ph.D., CEO of Kereos. "With the ability to find tumors earlier, or to diagnose atherosclerotic plaque more accurately, our targeted agents can improve the treatment of these diseases significantly. This agreement with Dow allows these products to continue advancing rapidly, with the first candidates entering the clinic next year."
Kereos develops products designed to provide more effective treatment and detection of cancer and cardiovascular disease, the first of which is expected to enter clinical trials in 2005. In addition to advancing its pipeline of therapeutic and imaging candidates independently, Kereos is committed to partnering with leading pharmaceutical and imaging companies. To date, it has formed collaborations with Bristol-Myers Squibb Medical Imaging for the development and commercialization of cardiovascular disease magnetic resonance imaging (MRI) agents and with Philips Medical Systems for the development of molecular imaging systems. For more information, visit Kereos' website at http://www.kereos.com/.
Dowpharma serves the pharmaceutical and biopharmaceutical industries with innovative technology, products, and services for clients in drug discovery, development, manufacturing, and delivery. Dowpharma combines the resources and capabilities of several offerings to create a single-market-focused organization with broad service and support capabilities for large and emerging pharmaceutical companies.
Dow is a leader in science and technology, providing innovative chemical, plastic and agricultural products and services to many essential consumer markets. With annual sales of $33 billion, Dow serves customers in more than 180 countries and a wide range of markets that are vital to human progress, including food, transportation, health and medicine, personal and home care, and building and construction, among others. Committed to the principles of sustainable development, Dow and its approximately 46,000 employees seek to balance economic, environmental and social responsibilities. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. For more information on The Dow Chemical Company, visit http://www.dow.com/.
CONTACT: Virginia Amann, +1-608-274-6046, email@example.com, Amy Beltran,+1-858-527-3489, firstname.lastname@example.org, both of Atkins + Associates, for Kereos;or Leslie Hatfield of The Dow Chemical Company, +1-989-638-8666,email@example.com, or Josiah McClellan of Gibbs & Soell, +1-212-697-2600,firstname.lastname@example.org, for Dow