Abbott and Caprion Extend Partnership to Discover Antibody Targets for Cancer
ABBOTT PARK, Ill. and MONTREAL, June 06, 2007 /PRNewswire-FirstCall/ -- Abbott and Caprion Proteomics, a general partnership wholly owned by Thallion Pharmaceuticals have extended their discovery partnership to investigate viable human therapeutic antibody targets for oncology using their CellCarta(R) technology platform. The two companies began working together on lung cancer targets three years ago. The extended agreement allows Abbott to retain exclusive rights to 10 targets in lung cancer identified by Caprion for up to two years. Financial terms of the agreement were not disclosed.
"The collaboration with Caprion fits our strategy to extend Abbott's portfolio with novel therapies in areas of high unmet clinical need. From day one, the partnership with Caprion has resulted in a series of potential therapeutic antibody targets for oncology and this extension will provide the additional time required to complete the pre-clinical evaluation of the 10 targets we have selected during the course of our agreement," said Stephen Fesik, divisional vice president, Cancer Research, Abbott.
"We are pleased Abbott has decided to extend our drug discovery collaboration in lung cancer. By combining the strength of Caprion's proteomics discovery platform with Abbott's capabilities in oncology discovery and biologics development, we have demonstrated biological validation of CellCarta's novel target discovery capabilities and are creating a tremendous opportunity to find new therapies for cancer patients," said Martin LeBlanc, president of Caprion Proteomics.
Abbott is engaged in the discovery and validation of novel monoclonal antibody drug targets for lung cancer. The company formed a collaboration to integrate Caprion's proprietary CellCarta platform, which utilized human lung cancer tissues and unique cell fractionation and quantitative proteomics technologies, with Abbott's capabilities in oncology research and monoclonal antibody development. Caprion may receive additional future payments upon Abbott's achievement of certain critical research and development milestones, as well as from royalties on future product sales resulting from their agreement.
Abbott's Oncology Pipeline
Abbott is committed to the discovery and development of innovative cancer treatments that enable patients to live longer and healthier lives. Abbott's oncology research is focused on developing more targeted, less toxic therapies than are currently available to improve the quality of life for patients living with cancer.
About Caprion Proteomics
Caprion Proteomics, a general partnership wholly owned by Thallion Pharmaceuticals , is the leading provider of proteomics-based discovery solutions to the pharmaceutical industry. Caprion uses its proprietary proteomics technology platform -- CellCarta(R) -- to discover novel targets for therapeutics development as well as clinical biomarkers that can significantly reduce risk and enhance productivity and decision making in pharmaceutical research. Caprion has established strategic alliances in the area of novel oncology target discovery and antibody development with Abbott, Biogen-Idec and Centocor, as well as multiple biomarker collaborations with such leading companies as Pfizer, Johnson & Johnson, Wyeth, Daiichi-Sankyo, Boehringer-Ingelheim, Berlex (now Bayer HealthCare) and Vertex. Caprion also has a major 5-year bio-defense contract in infectious disease proteomics with the NIH-NIAID.
Abbott is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs 65,000 people and markets its products in more than 130 countries.
Abbott's news releases and other information are available at the company's Web site at http://www.abbott.com.
CONTACT: Media, Catherine Bryan, +1-847-936-6722, or Financial, InvestorRelations, +1-847-935-8908, both of Abbott; or Media, Didier Jean-Francoisof Caprion, +1-514-228-3625
Web site: http://www.abbott.com/
Ticker Symbol: (NYSE:ABT),(Toronto:TLN.)
Terms and conditions of use apply
Copyright © 2007 PR Newswire Association LLC. All rights reserved.
A United Business Media Company
Posted: June 2007