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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
February 2, 1999 (January 19, 1999)
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THERAPEUTIC ANTIBODIES INC.
(Exact name of registrant as specified in its charter)
Delaware 0-25978 62-1212485
(State or other jurisdiction of (Commission File Number) (IRS Employer
incorporation) Identification
Number)
1207 17th Avenue South
Suite 103
Nashville, Tennessee 37212
(Address of principal executive offices) (Zip Code)
(615) 327-1027
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On January 19, 1999, Therapeutic Antibodies Inc. (the "Company")
announced that an agreement to develop an antibody for two G.D. Searle & Co.
("Searle") products was terminated following Searle's decision to cease
development of its xemilofiban and orboifiban projects.
The Company signed the research agreement with Searle, the
pharmaceutical division of Monsanto Co., in May 1998 to identify and develop a
"rescue antibody" to these drugs.
ITEM 7. EXHIBITS
20.1 Copy of the press release, dated January 19, 1999, relating to the
termination of the Searle agreement.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
THERAPEUTIC ANTIBODIES INC.
By: /s/ Andrew J. Heath
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Andrew J. Heath, M.D., Ph.D.
Chief Executive Officer
Dated: January 28, 1999
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EXHIBIT 20.1
FOR IMMEDIATE RELEASE
G. D. SEARLE AGREEMENT
LONDON January 19, 1999 - Therapeutic Antibodies Inc announces that an agreement
to develop an antibody for two G. D. Searle & Co. (Searle) products was
terminated following Searle's decision to cease development of its xemilofiban
and orbofiban projects.
Therapeutic Antibodies signed the research agreement with Searle, the
pharmaceutical division of Monsanto Co., in May 1998 to identify and develop a
`rescue antibody' to these drugs.
Commenting on the news, Andrew Heath, chief executive officer of Therapeutic
Antibodies said:
"Whilst Searle's decision to stop work on their underlying projects is a
disappointment, the alliance was a significant endorsement of our platform
technology and showed Therapeutic Antibodies can work effectively, and to
schedule, with a major pharmaceutical company.
Therapeutic Antibodies continues to investigate opportunities for strategic
partnerships and further collaboration."
In the near term, Therapeutic Antibodies' top priority product CroTAb(R), an
antivenom to North American rattlesnakes, is under active review by the FDA and
is on schedule for marketing in mid 1999. CroTAb(R) is part of TAb's emergency
medicine line, comprised of CroTAb(R), DigiTAb(R) and TriTAb(R), which is
licensed in the United States to Altana Inc., the U.S. subsidiary of Altana AG.
Enquiries:
Andrew Heath tel: 0171 606 8637
Chief Executive Officer
Therapeutic Antibodies Inc
Laura Frost tel: 0171 379 5151
The Maitland Consultancy
