Biovitrum AB Gets Access to Affibody Technology
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 autoimmune diseases.
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 R&D budget.
"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: www.biovitrum.com.
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 targeted therapeutics.
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: Biovitrum Peter Edman, CSO of Biovitrum Cell phone: +46 70 586 20 30 firstname.lastname@example.org Erik Kinnman, VP Investor Relations Cell phone: +46 73 422 15 40 email@example.com Affibody David Bejker, CEO Cell phone: +46 706 454 948 firstname.lastname@example.org Johan Stuart, CFO Cell phone: +46 706 644 096 email@example.com
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 a.m. CET.
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