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Alligator Bioscience AB has reached a successful milestone in its collaboration with Bayer HealthCare AG


Lund, October 26, 2006 -Alligator Bioscience, the protein optimization company, is pleased to announce the achievement of key success milestone in its collaboration with Bayer HealthCare AG.
In this collaboration, first announced in October 2005, Alligator has succeeded to improve the expression level from undetectable to above the goal for the project, using Alligator´s proprietary ssDNA recombination technology, FIND®.
According to the agreement Alligator Bioscience will receive up-front and milestone payments for the development as well as milestone payments during the clinical development of the final product.
Commenting on the agreement, Gun-Britt Fransson, CEO of Alligator Bioscience, says "This project was a challenge, but once more we have been able to prove the power of our technology platform and skills of our researchers. We are particularly pleased we could provide our collaboration partner with a variety of new biological entities to support their pipeline”.
Alligator Bioscience uses its proprietary FIND® technology to develop new and optimize existing therapeutic and diagnostic proteins.
Since 2001, Alligator Bioscience has successfully collaborated with several companies in the pharmaceutical, diagnostic and biotech industry, improving customers’ proteins and helping them to build more competitive pipelines. The company has also created an internal pipeline of therapeutic drug candidates for major clinical indications, which are at varying stages of development.
Alligator Bioscience operates from the Ideon Science Park in Lund, and has 23 employees.
The company has about 150 shareholders.
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