Biotech new area for Meda

Biotech - new area for Meda Meda AB has signed a letter of intent to enter into a partnership with Immunomedics Europe of the Netherlands involving products for the diagnosis and treatment of cancer and infectious diseases. This partnership will involve marketing and sales for the markets in the Nordic area and the Baltic States. Sales of the first two products are expected to begin in June 1999. They are Leucoscan, for the diagnosis of bone infections, and CEA-Scan, for diagnosing cancer of the colon and rectum. A further five to seven products are expected to be launched over the next three years. "Immunomedics is running an interesting development programme for high-tech products for the diagnosis and treatment of illness where the need for medical treatment is enormous. This partnership will represent Meda's first step into the field of biotechnology and will constitute an extremely interesting complement to our current business operations," says Göran Pettersson, Meda AB's managing director. Immunomedics is a biopharmaceutical company focused on development, manufacture and commercialization of diagnosic imaging and therapeutic products for the detection and treatment of cancer and infectious diseases. The company's technology is based on specific antibodies and antibody fragments designed to deliver radioisotopes and chemotherapeutic agents to tumours and sites of infection. For further information, please contact Göran Pettersson Managing Director Phone +46 31-701 28 01 or +46 70-445 03 01 Annette Johansson Public Relations Manager Phone +46 31-701 29 04 or +46 70-445 03 00 Meda develops profitable partnerships in the Nordic and Baltic areas in collaboration with international producers of pharmaceuticals, nutrition and medical device products. With our thorough knowledge and our expertise in marketing and sales, we offer benefits to the health and medical care sector at the same time as we promote our own and our partner's growth and development. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/05/19/19990519BIT00300/bit0001.pdf http://www.bit.se/bitonline/1999/05/19/19990519BIT00300/bit0002.doc