STOCKHOLM, Sweden, April 25, 2005 (PRIMEZONE) -- An extra annual general meeting of the shareholders in Biovitrum AB has taken the formal decisions required to complete the acquisition of Cambridge Biotechnology Ltd (CBT). As a wholly owned subsidiary of Biovitrum, CBT will be included in the Group's accounts effective April 18. CBT's drug discovery operations focus on obesity, pain and inflammation. The company's projects are at an advanced stage, with one currently in the clinical phase and another expected to enter Phase I in 2006. As a Biovitrum subsidiary, CBT will continue to operate as an autonomous and innovative R&D unit, based in Cambridge, in the UK. "The acquisition of CBT is in line with our core business-development strategy and is significant for Biovitrum. We are developing our therapeutic base and this acquisition provides us with a direct connection into one of Europe's most interesting research and biotech clusters, says Mats Pettersson," CEO of Biovitrum.
For further information, contact:
Biovitrum AB Anna Karin Kallen, Vice President Communications Tel: +46 8-697 20 85 Mobile: +46 73-433 20 85 e-mail: annakarin.kallen@biovitrum.com Mats Pettersson, CEO Tel: +46 8-697 23 27 Mobile: +46 73-314 75 79 e-mail: mats.pettersson@biovitrum.com
Biovitrum
Biovitrum is one of Europe's largest biotechnology companies, with operations in Stockholm and Uppsala, in Sweden and in Cambridge, in the UK. The company's activities comprise Research & Development and Commercial Operations. R&D focuses on research and development relating to new pharmaceuticals in obesity and diabetes, as well as in cancer, eye diseases, inflammation and pain. Commercial Operations focus on developing and producing protein-based drugs on a contractual basis, as well as marketing and selling pharmaceuticals in the Nordic countries. Within Biovitrum, approximately 300 people work with proprietary R&D and about 200 in Commercial Operations. For additional information, visit our website at; http://www.biovitrum.com.
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