OSLO, Norway--(BUSINESS WIRE)--Sept. 12, 2006--Affitech today announced that it has been selected to participate in the new European Union E.E.T. Pipeline project to identify fully human therapeutic antibody candidates for Embryonal Tumors (ET) by using its unique antibody discovery platform. The E.E.T. Pipeline project is a multidisciplinary consortium of leading European institutions and SME (Small and Medium Enterprise)s, which the EU is funding with EUR 4 million for developing new methods of diagnosis and treatment for ET. Such methods would be based on gene expression profiling of tumors and would include other post-genomic investigative technologies. The EU has taken this initiative since Embryonal Tumors are classified as orphan diseases, but they do not comprise large enough markets to justify the costs of drug development for the pharmaceutical industry.
