Therapeutic Antibodies On Track In 1st Qtr

The UK company Therapeutic Antibodies has announced revenues in thefirst quarter of 1997 of $458,941, compared with $79,685 a year earlier. The rise was attributed to increased interest income and higher revenues. The net loss was $4.3 million, compared with $3.7 million a year earlier.

TAb has developed five antivenom products relating to snake bites in specific regions of the world. Sales and contract revenues grew to $87,415 from $36,769 in the first quarter, reflecting sales of Echi-TAb, an antivenom product designed to offset the effects of the venom of the West African carpet viper. A license fee for $62,300 was received for a clinical evaluation, manufacturing and distribution agreement of BrownTAb, an antivenom against the bite of the Australian viper.

Martin Brown, chief executive of the company, said that the firm has completed a Phase I study of CytoTAb, for the treatment of malaria. "We are encouraged by the implications of this research program and are planning a Phase II study," he said. He added that the firm has revised its market estimates for this indication to a potential $200 million a year. The Australian company F H Faulding is supporting the development of CytoTAb.