12:00 AM
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Jan 08, 2007
 |  BioCentury  |  Strategy

Beyond the land Down Under

With a big infusion of cash coming in via its prescient investment in Domantis Ltd., Peptech Ltd. aims to provide a new benchmark for the cluster of Australian players aiming to play in global biotech. The company plans to use the US$141 million windfall to accelerate its transition from a research company to a biologics story with clinical development capabilities and a multinational presence.

When CEO John Chiplin first arrived in October 2005 after a stint as chief executive of the Intermediary Technology Institute (ITI) of Life Sciences in Scotland, he said "Peptech reminded me of a start-up with cash and some baggage that we needed to get shot of."

Peptech (ASX:PTD; LSE: PTDX, North Ryde, Australia) was founded in 1985 based on its work with antibodies, with a particular focus on the anti-TNF space. PTD soon established a patent estate in this area that now forms the basis for a royalty stream for Humira adalimumab from Abbott Laboratories (ABT, Abbott Park, Ill.) and Remicade infliximab from Centocor Inc., now part of Johnson & Johnson (JNJ, New Brunswick, N.J.) (see BioCentury, Dec. 11, 2006).

Those agreements are expected to generate income of US$100-$130 million over the next four years before the patents...

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