Peptech to deepen pipeline following Domantis sale

18 December 2006

Australian biopharmaceutical company Peptech says that it plans to expand its product pipeline and R&D capacity following divestiture of its stake in UK-based antibody therapeutics firm Domantis. The sale, which was to UK drug major GlaxoSmithKline (see page 3), earned the company A$178.0 million ($139.0 million), which it said will be used to fund clinical trials of its lead compound PN0621, an anti-tumor necrosis-based therapeutic, in the second quarter of 2007.

Additionally, Peptech said it would use a portion of the sale proceeds to support the full integration of the recently-purchased companies, Scancell and Promics. The firm added that it would also begin targeting late-stage biologic companies for potential acquisition.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK



Companies featured in this story

More ones to watch >


Today's issue

Company Spotlight