Peptech Announces Formal Resolution to Abbott DisputeAustralian...

Peptech Announces Formal Resolution to Abbott Dispute
Australian biotechnology company, Peptech Limited, today announced that they have
entered into an agreement with Abbott Laboratories regarding certain Peptech patents
relating to Abbott’s therapeutic agent, HUMIRA®, approved for the treatment of rheumatoid
arthritis. Terms of the agreement are withheld under confidentiality.
Executive Chairman, Mr Mel Bridges, said he was pleased that the parties reached
agreement and was confident about Peptech’s future, given the positive outcome of the
agreement.
“This agreement provides Peptech with significant cash reserves to take advantage of a
number of market opportunities,” Mr Bridges said.
“It also enables Peptech to further develop its therapeutic product pipeline in collaboration
with UK based development partner, Domantis Limited. Expanding our strategic relationship
with Domantis makes strong business sense. Resolution of the Abbott dispute puts Peptech
in a position to fast track its product pipeline,” Mr. Bridges said.
Peptech currently holds a 36.1% share in Domantis.
Background:
Healthcare company, Abbott Laboratories commenced selling HUMIRA® (adalimumab) in
January this year after receiving marketing approval from the US Food and Drug
Administration (FDA) in December 2002. Sales in Europe began in October of this year after
receiving marketing approval from the EU in September.
Peptech Limited focuses on the research and development of peptides and proteins in the
areas of human pharmaceuticals and animal health. The company is positioning itself to
become a globally recognised leader in biopharmaceutical development.
Further information:
Mr Mel Bridges
Executive Chairman
Peptech Limited
Mobile: 0413 051600