STOCKHOLM, Sweden, May 10, 2004 (PRIMEZONE) -- Biovitrum AB and The Danish biotech company Symphogen A/S have signed a fee-for-service agreement, which involves process development and production of a Rhesus D-specific recombinant polyclonal antibody for Symphogen's clinical studies on the prevention of hemolytic disease in newborns.
"This collaboration with Symphogen strengthen Biovitrum's position as one of the leading process developers and manufacturers of recombinant proteins," commented Hans Orstrom, head of the business area Biopharmaceutical Services at Biovitrum.
"With this agreement, Symphogen reaches the important milestone of bringing our first product into pre-clinical development. I anticipate this product to be the first of several recombinant polyclonal antibodies that Symphogen will move from research into development over the next few years. Biovitrum's manufacturing experience will help Symphogen bring this new type of therapeutic antibodies into the market," says Kirsten Drejer, CEO of Symphogen.
Biopharmaceutical Services was formed late 2003, with the objective to strengthen Biovitrum's position as supplier of process development and contract manufacturing of recombinant proteins. Other customers include Amgen, Pfizer and Wyeth.
Biovitrum enquiries: Mikael Widell SVP, Communications +46 8 703 11 99 60 mikael.widell@biovitrum.com
Symphogen enquiries: Kirsten Drejer Chief Executive Officer +45 4550 5050
About Biovitrum
Biovitrum is a privately held biotech company active in the discovery and development of drugs to treat metabolic diseases, such as type 2 diabetes and obesity, and is in the process of development and contract manufacturing of protein therapeutics. The company has strong intellectual property and technology platforms, with a number of compounds in pre-clinical and clinical development. Biovitrum is one of the largest biotech companies in Europe with more than 550 employees. Annual revenues, including royalties and contract service fees, finance a major part of the annual research budget. For more information, please visit Biovitrum's website at http://www.biovitrum.com.
About Symphogen
Symphogen A/S is a biotechnology company with a pioneering technology to produce target-specific recombinant human polyclonal antibodies, symphobodies, for the treatment or prevention of human disease. The new generation of Symphogen antibody drug candidates are developed using either the Symplex(TM) or the Symphage(TM) technologies. Symphobodies provide a totally new class of therapeutic antibodies, which offer a number of advantages over current plasma-derived immunoglobulins and monoclonal antibody therapies, for the treatment of diseases characterized by complex target antigens, such as those found with infectious diseases, allergy, transplant rejection and cancer. Founded in 2000, the company has raised $25 million in venture capital, and investors include Novo A/S, Essex Woodlands Health Ventures Fund, Scandinavian Life Science, Danske Bank A/S, LD Pensions and Vaekstfonden. For more information, please visit Symphogen's website at www.symphogen.com
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