British Bio-tech sets up US subsidiary
Thursday 02 December 1993
James Noble, finance director, said the development was a sign of the progress made in British Bio-tech's testing programme. 'There's no possibility of a drug getting recognised in the States without doing US clinical trials,' he said.
The new US company will operate from Annapolis in Maryland, a short drive from the FDA's Washington offices. It will also be close to other important medical centres, including the National Institute of Health and the National Cancer Institute.
The US operation will be headed by Peter McCann, who joins British Bio-tech after 20 years in the pharmaceutical industry with Marion Merrell Dow in the US and Europe.
Recent animal tests on virus- like particles have encouraged British Bio-tech to believe its Aids treatment, p24-VLP, can induce the response needed to combat viral infections.
Testing of the company's ovarian cancer product, Batimastat, has shown it to be well tolerated. Tests also suggest it could be used against a much wider range of cancers.
British Bio-tech's latest results show a second-quarter loss increased from pounds 1.8m to pounds 4.6m, which the company said was in line with its expectations. This means the loss in the six months to 31 October is up from pounds 4.7m to pounds 8.8m.
Analysts expect the company to lose about pounds 20m this year, as its drugs enter more costly testing in the later stages. British Bio-tech still had cash of pounds 39.3m at the end of the half.
The group incurred a pounds 142,000 loss on the July sale of its manufacturing business to Techne Corporation. This has left it with negligible turnover.
- 1 Malaysian cyclist could face disciplinary action after 'Save Gaza' gloves protest
- 2 Is Gideon Levy the most hated man in Israel or just the most heroic?
- 3 McDonald’s removes chicken nuggets from the menu in Hong Kong amid major food scare
- 4 Students offered grants if they tweet pro-Israeli propaganda
- 5 Satellite full of sexually experimental geckos adrift in space, Russia loses control of mission
Israel-Gaza conflict: Israeli targeting policy under scrutiny after shellfire hits a mother and child, a school full of refugees and a doctor’s home
Iraq crisis: Isis orders Mosul shop keepers to cover mannequins
Comic Con 2014 attendees
Students offered grants if they tweet pro-Israeli propaganda
McDonald’s removes chicken nuggets from the menu in Hong Kong amid major food scare
Malaysia Airlines MH17 crash: Vladimir Putin is given 'one last chance' to end hostilities in Ukraine
The 'scroungers’ fight back: The welfare claimants battling to alter stereotypes
The truth about conspiracy theories is that some require considering
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: Massive rise in sale of British arms to Russia
iJobs Money & Business
£600 - £650 per day: Orgtel: Conduct Risk Liaison Manager - Banking - London -...
£18000 - £23000 per annum + Comission: SThree: SThree, International Recruitme...
£280 - £300 per day + competitive: Orgtel: Test Analyst, Edinburgh, Credit Ris...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...