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Morphotek Divests Cell Evolution Service Business to Invitrogen
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Morphotek®, Inc. has announced that it divested its cell line evolution service business to Invitrogen Corporation.
As part of the transaction, Morphotek retains rights to its Human MORPHODOMA® antibody technology platform as well as rights to use its basic evolution platform technologies to advance its internal product pipeline.
This divestment allows Morphotek to focus its business strategy on advancing its therapeutic antibody pipeline and developing next generation antibody products for its internal programs and strategic partners.
This will be achieved in part by employing its Human MORPHODOMA® technology to generate fully human monoclonal antibodies (MAbs) from immunized human B-cells in a process that bypasses third-party enabling technologies and their associated financial obligations.
"The divestment of our cell line optimization service business reflects Morphotek's commitment to becoming a leader in the antibody discovery and product areas," said Nicholas C. Nicolaides, PhD, President and CEO of Morphotek.
"We are now in a prime position to focus our efforts on the clinical development and commercialization of our human therapeutic antibody pipeline with our lead MORAb-003 advancing into Phase II clinical trials in ovarian cancer and the initiation of Phase I trials of MORAb-009 in pancreatic cancer and MORAb-004 in neovascular diseases in 2006."
"Funding from this transaction will help support these trials as well as the development of other therapeutic candidates in our pipeline."
"Revolution™ is exciting because it introduces an entirely new mechanism for cell line optimization," according to David Onions, PhD, Chief Medical Officer at Invitrogen.
"Not only is the Revolution™ technology a powerful tool for improving product expression, but now we are able to achieve optimization of traits previously considered out of reach."
The Revolution™ technology is offered through Invitrogen's PD-Direct™ process development services to clients interested in cell line optimization within an integrated process development program or as a focused technology solution.
