14 February 2000 16:07 [Source: ICIS news]
LONDON (CNI)--Oxford BioMedica said Monday it is to collaborate with Anglo-Swedish pharmaceutical major AstraZeneca in genomics and target validation.
The joint programme with Loughborough, England-based AstraZeneca R&D Charnwood will use BioMedica's LentiVector gene delivery technology to deliver genes to primary cells that are central to a number of disease processes, including asthma.
Alan Kingsman, BioMedica's chief executive, said: "The deal adds further confirmation that our technology is not only at the forefront of gene technology, but that it can also be applied to the new field of gene-driven drug discovery."
BioMedica, which specialises in gene-based therapeutics, also announced it has set up a new drug discovery unit. The unit is self-financing and will develop technologies and approaches that arise from the company's core technologies.
The deal with AstraZeneca sent share in Oxford Biomedica up sharply on the London Stock Exchange. At about 15:30 GMT they were 11.7% higher at 76.5 pence.
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