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news.Cambridge Antibody Technology, which was taken over by AstraZeneca last year, is changing its name to MedImmune, another of AstraZeneca's acquisitions, to unite the biologics businesses under the MedImmune name.
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With this change, AstraZeneca said that it has created one of the world’s leading vertically integrated biotechnology businesses, with more than $1.3 billion in revenues in 2006, a pipeline of approximately 100 research projects and more than one dozen clinical product candidates, and more than 3,000 employees worldwide. As part of the integration, John Stageman, vice president of AstraZeneca biopharmaceutical strategic planning, assumes the role of interim site head in Cambridge.
David Mott, MedImmune president and CEO, said: “The new MedImmune is now the operationally independent and strategically aligned biologics business unit of AstraZeneca. Bringing together the biologics expertise of Cambridge Antibody Technology (CAT), MedImmune and AstraZeneca allows us to preserve MedImmune’s traditional biotech agility and entrepreneurial spirit while encouraging strategic collaboration and cross fertilization of ideas under AstraZeneca’s world-class research umbrella.”
Dr John Stageman, said: “AstraZeneca’s biologics capabilities have been enhanced significantly by the acquisitions of CAT and MedImmune to create a more robust, highly competitive and fully integrated biotechnology business.”