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Biovitrum AB has announced that it is aiming to spin out its small-molecule R&D subsidiary Cambridge Biotechnology (CBT) and a range of primary care projects. The spin-out will enable the Stockholm-based company to focus its in-house R&D on specialist pharmaceuticals and protein therapeutics, as announced in March 2008.
CBT’s pipeline includes one Phase II neuropathic pain project; one Phase II and one Phase I obesity project, as well as a preclinical leptin mimetic candidate drug; and one pre-clinical and four pain/inflammation discovery programmes.
“CBT has a highly competent and successful stand-alone internal R&D organisation based on solid technologies and know-how. As we leave small molecule, primary care drug development, I am convinced that CBT will be successful in the further development of its highly promising pipeline of primary care projects outside Biovitrum,” said Martin Nicklasson, CEO of Biovitrum.
CBT was founded in Cambridge, UK, in 2001 by a team of scientists who had previously worked in Pfizer’s Global Research & Development drug discovery team. The company raised £10.2 million before being acquired by Biovitrum in March 2005. The terms of that deal were not disclosed.
CBT specialises in the discovery and development of high value potential drugs in the fields of pain/inflammation and obesity using two core platforms: the targeting of drug action to low pH tissues (apHinity), and peptide-mimetic chemistry.
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