Oxford Glyco strikes US protein research deals

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The Independent Online

Oxford Glycosciences, the biotechnology company, yesterday announced two deals to speed up its development of drugs using its "proteomics" technology.

Oxford Glycosciences, the biotechnology company, yesterday announced two deals to speed up its development of drugs using its "proteomics" technology.

Reporting interim results, which showed pre-tax losses widen to £7m for the six months to 30 June, from £4.5m a year ago, the company also announced that it intends to list on Nasdaq, at an unspecified time.

Oxford Glyco uses its database of information on proteins to detect or treat disease. It said yesterday that it would get early access to protein research equipment developed by PE Biosystems of the US.

The British company will have a two-year headstart on competitors in accessing the prototypes of the next generation of mass spectrometers from PE Biosystems. The machinery, which provides an understanding of the chemical make-up of proteins, promises faster and higher-quality information than existing spectrometers. Oxford Glyco also announced it will collaborate with Packard Bioscience, also of the US, to develop protein biochips - used in diagnostic technology.

Oxford's shares slipped 15p to £20.45.

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