Oxford GlycoSystems (OGS) of Oxford, England, announcedFriday that it signed a research agreement with SmithKlineBeecham to develop carbohydrate-based inhibitors of selectin-mediated cell adhesion for use in treating inflammatorydiseases.
OGS President Dale Pfost declined to disclose the terms of thedeal, but said that it is worth several million dollars to hiscompany and includes research and milestone payments, androyalties from any products resulting from the partnership.
Privately held OGS was founded in 1988 as the first spinoffcompany in biotechnology from England's Oxford University. Itraised $30 million in funding. The company is working withcarbohydrate analysis and synthesis to develop recombinantglycoproteins and monoclonals.
Investors in OGS include Kleiner Perkins Caufield and Byers,Advent Ltd., S.R. One and the Alafi Capital Co. OGS plans tomake a private stock placement later this year, according toPfost.
Pfost said Oxford is in discussions with other pharmaceuticalcompanies about forming additional corporate alliances in thetherapeutics field. He declined to give details. OGS's previouscollaborators include Cetus Corp., now part of Chiron Corp., andBiogen Inc.
OGS has performed contract analytical services for more than100 biotechnology companies in in the U.K., Europe and theU.S. "We now see our products and services as serving the R&Dpipeline from research to product development," Pfost said.
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