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BTG LICENSEE TOLERRX, INC. RAISES $35.6M TO DEVELOP TRX4; PHASE III PIVOTAL TRIAL IN TYPE 1 DIABETES
25 September 2006 - BTG
| BTG plc, the medical innovations company, today announces that TolerRx, Inc. has raised $35.6 million to advance the development of TRX4 as a treatment for type 1 diabetes and plans to commence a Phase III pivotal trial in 2006. TolerRx, BTG's exclusive licensee for the anti-CD3 monoclonal antibody TRX4, is also developing TRX4 as a treatment for psoriasis. |
BTG plc, the medical innovations company, today announces that TolerRx, Inc. has raised $35.6 million to advance the development of TRX4 as a treatment for type 1 diabetes and plans to commence a Phase III pivotal trial in 2006. TolerRx, BTG's exclusive licensee for the anti-CD3 monoclonal antibody TRX4, is also developing TRX4 as a treatment for psoriasis. BTG's pipeline currently comprises 15 assets in clinical development, of which 10 are being developed by licensees.
http://www.btgplc.com
About: BTG
BTG is an intellectual property and technology commercialisation company that operates internationally. BTG creates value by investing in intellectual property and technology development, and in early stage ventures. We realise value through technology licensing, patent assertion and sale of equity investments. Through a multidisciplinary approach, we apply intellectual property and commercial expertise, together with specialist skills in science and technology, to create major product opportunities in the health and high tech sectors. BTG has commercialised important innovations, including Magnetic Resonance Imaging, Multilevel Cell Memory, Campath (alemtuzumab), the first monoclonal antibody treatment for chronic lymphocytic leukaemia, and recombinant Factor IX blood clotting protein. BTG operates through wholly owned subsidiaries BTG International Ltd and BTG International Inc in the UK and USA, respectively. |
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