STOCKHOLM, Sweden, Jan. 14, 2003 (PRIMEZONE) -- Biovitrum AB today announced a commission agreement with the Danish pharmaceutical company Lundbeck A/S for the production of a protein therapeutic.
Lundbeck, which specializes in central nervous system disorders, has acquired the rights to a new protein therapeutic from U.S. biotech company Maxygen. Biovitrum will assist Lundbeck in process implementation and manufacturing of material for further investigations. The duration of the commission agreement is two and a half years.
"This agreement shows that Biovitrum continues to attract commissions of this kind since it was established as an independent company in August 2001, and that there is great demand for Biovitrum's unique competence and capacity regarding protein therapeutics," commented Mats Pettersson, CEO of Biovitrum. "It is especially noteworthy for Biovitrum since Lundbeck is a well-renowned pharmaceutical company. This proves that we are viewed as a trustworthy partner that represents quality."
Notes to Editors:
Biovitrum is a biotech company active in the discovery and development of drugs to treat metabolic diseases, such as obesity and type II diabetes, and in the development of protein therapeutics, with metabolic diseases and oncology as targeted therapy areas. The company has a strong intellectual property and technology platform, with a number of compounds in clinical development. Biovitrum is one of the largest biotech companies in Europe with about 550 employees. Annual revenues, including royalties and contract service fees, finance the major part of the annual research budget.
Lundbeck A/S is an international pharmaceutical company engaged in the research and development, production, marketing and sale of drugs for the treatment of psychiatric and neurological disorders. In 2001, the Company's revenues were DKK 7.7 billion. The number of employees is approx. 4,800.