The management of monoclonal antibody company Cambridge Antibody Technology Group PLC (CAT) and proteomics firm Oxford GlycoSciences PLC (OGS) are positioning their merger, announced January 23, as a kind of inevitable marriage of two compatible partners. After all, the biotech firms have been working together since 2000 to develop a protein chip useful for screening human monoclonal antibody libraries that CAT generates against OGS proteomics targets [See Deal].
And in retrospect, it would appear that the two partners were preparing themselves for such a merger. Last year, struggling with losses and a stock price that had fallen 90% from its high in 2000, OGS brought in David Ebsworth, PhD, formerly head of the worldwide pharmaceuticals group of Bayer AG , as CEO, to reduce costs and explore merger alternatives. For its part, CAT was ready to enter into a new phase, with the FDA approval a month ago, via licensee Abbott Laboratories Inc
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