Biovitrum AB acquires Cambridge Biotechnology Ltd.
Biovitrum announces that the company has agreed to acquire Cambridge Biotechnology Ltd ("CBT"), a Cambridge UK based private drug discovery company. Through this move, Biovitrum is developing its therapeutic area base, advancing and balancing the medical and commercial potential of the product portfolio, expanding the technology platform and strengthening its position.
CBT's drug discovery efforts have been focused on obesity, pain and inflammation, utilizing the company's top class scientific and technical skills in the field of cytokine receptors. Cambridge Biotechnology has been highly productive since its formation in 2001, with one compound, CBT 1008 for inflammatory pain, successfully through a phase I clinical trial and generating a pipeline of compounds including novel leptin agonists. The most advanced leptin agonist, for the treatment of obesity, is expected to enter phase I next year. As a subsidiary of Biovitrum, Cambridge Biotechnology will continue to work as an autonomous, highly skilled and innovative R&D unit, based in Cambridge, UK.
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