Active Biotech signs Letter of Intent with Avidex Ltd.
Active Biotech has signed a Letter of Intent with the UK based company Avidex Ltd, Oxon, regarding the evaluation of a series of CD80 inhibitors (substances that can alter the immune response) developed by Active Biotech in Lund. The agreement gives Avidex an option to exclusive licensing rights for further development of the products. Should this be exercised, Active Biotech will receive pre-negotiated milestone payments and royalties.
"This is in line with our partnership strategy where we will enter collaborations at the optimal time-point for each individual project. We are very pleased to be involved in the continued development of this interesting project", says Tomas Leanderson VP Research & Development Active Biotech.
Lund, Sweden 6 August 2001
Active Biotech AB (publ)
President & CEO
Avidex Ltd. is a spin-out company from the Institute of Molecular Medicine at the University of Oxford. In particular, T cell receptors form the basis for Avidex´s technology. Avidex has recently established offices and a laboratory at Milton Park, near Oxford, and has a complement of 40 staff. For more information consult www.avidex.com
Active Biotech is a biotechnology company focusing on research in and development of pharmaceuticals. Active Biotech has a strong R&D portfolio and pipeline products with focus primarily on autoimmune/inflammatory diseases and cancer. Main platforms include orally administered small molecules with unique immunomodulatory properties that can be used to treat autoimmune and inflammatory diseases, as well as a novel concept for use in cancer immunotherapy.
Active Biotech AB
Box 724, S-220 07 Lund, Sweden
Tel +46 46-19 20 00
Fax +46 46 19 20 50