Biotech Market Spotlight: Patrys & CSL
Thursday, 28 January, 2010
Patrys (ASX:PAB) stocks have surged in heavy trading this morning, leaping over 60% to 21c as of midday on the back of news that the biotech has entered in to an agreement with CSL (ASX:CSL) to develop two of Patrys' leading antibody-based therapy candidates.
The agreement lets CSL research and develop two of Patrys' early stage antibodies, with an option for CSL to develop two more in the future.
CSL has paid an undisclosed up front amount and will also pay Patrys milestone payments over the first 30 months of the agreement if development goals are met. If products reach the market, Patrys is also entitled to royalty payments.
The therapy candidates being explored by CSL don't include Patrys' lead products, PAT-SM6, PAT-LM1 and PAT-SC1.
CSL is down 42c, or 1.34%, to $30.93.
Quitting smoking increases life expectancy even for seniors
Although the benefits of quitting smoking diminish with age, there are still substantial gains...
Stem cell transplants treat blindness in mini pigs
Scientists have successfully transplanted retinas made from stem cells into blind mini pigs,...
Sugary drinks raise cardiovascular disease risk, but occasional sweets don't
Although higher sugar intake raises your risk of certain cardiovascular diseases, consuming sweet...
