|
 NEWS RELEASE
Oslo, Sept. 5th. 2000
Affitech AS acquires Actigen Ltd.
Affitech AS (Oslo, Norway) has recently completed the acquisition of Actigen Ltd. from Active Biotech AB (Lund, Sweden). In addition to Actigen's distribution and license agreements, Affitech has also acquired a comprehensive package of intellectual property related to protein L and other affinity proteins and purification methods previously owned by Active Biotech AB, and its subsidiary, Actinova Limited (Cambridge, UK).
Protein L is a protein that binds to the kappa light chain of antibodies, and is a very useful tool for working with both non-protein A binding antibodies (i.e. IgA, IgM and IgE) and antibody fragments, such as Fab and scFv. In addition, the lack of binding of protein L to bovine IgG simplifies certain purification protocols.
Affitech AS will maintain and develop the protein L product range, and will continue to supply the current range of protein L products to the Life Science market. Affitech also aims to build upon the established protein L product line, and new and improved products will be launched in the near future.
Affitech AS is an antibody engineering company, which is expanding its operations in the area of human antibody and antibody fragment manufacturing, purification and detection. Utilising various techniques, such as phage display, HTS and display of various antibody fragments, Affitech has been able to obtain high affinity and very specific antibodies to a variety of small haptens and molecules of clinical relevance. More information on Affitech and Actigen can be found on their respective Web-sites: www.affitech.com and www.actigen.com
"This acquisition is part of a dedicated strategy to strengthen Affitech's position in the antibody engineering arena," commented Dr Ole Marvik, Managing Director of Affitech AS. He continued: "The protein L patent portfolio will be an excellent fit for Affitech's current proprietary technology on phage display and recombinant antibodies. We envision that protein L-based tools and methods that have been acquired by Affitech as part of this deal will play a significant role in the antibody field, both for in vitro antibody development and their applications.
Active Biotech's President and CEO, Sven Andréasson added that: "The sale of the Protein L business is an integral part of Active Biotech's strategy to focus its resources on the development of pharmaceuticals and vaccines to treat diseases of the human immune system."
The value of the deal could exceed $1.0m over the next five years, with $0.5m in guaranteed payments and minimum royalties.
For further information please contact Affitech AS
Dr. Ole J. Marvik, Managing Director
Tel: +47 22 95 87 58
Email: o.j.marvik@affitech.com
Web page: http://www.affitech.com
|
|
