ATHENS, Ga., July 15 Abeome Corporation, a Georgia-basedbiotech company, announced today a strategic equity investment by CatoBioVentures and a collaboration with Cato Research Ltd., its global contractresearch and development organization. The investment and collaboration willhelp support continued development of Abeome's lead ovarian cancer project.
Abeome's proprietary technology vastly improves the development ofmonoclonal antibodies and Abeome is deploying its technology to provide ashotgun approach to develop an array of antibodies for an ovarian cancertherapeutic target. The company has developed novel monoclonal antibodies tofour ovarian cancer cell lines and has begun screening these antibodies insearch of those which cause either cancer cell growth inhibition or death.
Joel Eisner, Ph.D., Associate Principal of Cato BioVentures, states, "Weare fascinated with Abeome's ability to develop such a large library ofmonoclonal antibodies by use of their technology. They have pushed thebottleneck of therapeutic development to the screening step which will providea broader selection of novel antibodies to more cancer targets."
Monoclonal antibodies have become the centerpiece of many high-profiletherapeutic products. Their specificity to disease targets, like cancer, hasdrawn significant attention from the biotech community.
"Ovarian cancer is a dreadful disease which is frequently diagnosed at avery late stage of development. With no effective therapeutic drugs on themarket to date, we expect to address this unmet medical need. Our technologyimproves the likelihood of finding that one-of-a-kind antibody that can makethe difference," said Mike Wanner, President and CEO of Abeome. "We areexcited to have Cato Research join our expanding team of professional expertsto help us with this important project".
Abeome Corporation is a biotechnology company dedicated to leveraging itsproprietary hybridoma technology to accelerate and improve the development ofmonoclonal antibodies for life sciences. Abeome owns an exclusive license forthe technology from the University of Georgia Research Foundation and hasgarnered significant support from the Georgia Research Alliance.
For more information on Abeome, visit http://www.abeomecorp.com .
About Cato BioVentures
Cato BioVentures is the venture capital affiliate of Cato Research Ltd.and has assisted entrepreneurs and established management teams in buildingsuccessful life science companies. Through strategic CRO service agreementswith Cato Research, Cato BioVentures invests its in-kind CRO ServiceCapital(TM) in innovative therapeutics, medical devices, diagnostics andplatform technologies for improved drug discovery and development, offeringpromising life science companies immediate access to a broad range ofessential CRO services on a noncash basis. Access to these time-critical CROservices enables management to achieve key value-added development andregulatory milestones with less reliance on other sources of capital. CatoBioVentures has offices in Boston's Bay Colony, Research Triangle Park andSilicon Valley.
For more information on Cato BioVentures, visithttp://www.catobioventures.com .
SOURCE Abeome Corporation