- Gains access to new screening platform for antibody therapeutics
BASEL, Switzerland, Sept. 24 /PRNewswire-FirstCall/ - Roche (SWX: ROG) announced today that it has completed the acquisition of 100% of the issued and outstanding shares and warrants of ARIUS Research (TSX: ARI). On September 19th, the Ontario Superior Court, Canada, approved the Plan of Arrangement previously approved by the security holders and announced in a press release dated 23 July 2008. All other conditions of closing have been satisfied.
ARIUS is the developer of a proprietary antibody platform called FunctionFIRST(TM), which rapidly identifies and selects antibodies based on their functional ability to affect disease before progressing into clinical development. This antibody generation engine has enabled ARIUS to develop a pipeline of more than 500 antibody drug candidates. The FunctionFIRST(TM) technology platform will allow Roche to further strengthen its developmental portfolio, initially within the areas of oncology and inflammatory diseases where this new technique offers potentially broad therapeutic applications.
Headquartered in Basel, Switzerland, Roche is one of the world's
leading research-focused healthcare groups in the fields of pharmaceuticals
and diagnostics. As the world's biggest biotech company and an innovator of
products and services for the early detection, prevention, diagnosis and
treatment of diseases, the Group contributes on a broad range of fronts to
improving people's health and quality of life. Roche is the world leader in
in-vitro diagnostics and drugs for cancer and transplantation, and is a
market leader in virology. It is also active in other major therapeutic
areas such as autoimmune diseases, inflammatory and metabolic disorders and
diseases of the central nervous system. In 2007 sales by the
Pharmaceuticals Division totalled 36.8 billion Swiss francs, and the
Diagnostics Division posted sales of 9.3 billion
|SOURCE ARIUS Research Inc.|
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