ROCHE SNAPS UP BIOTECH FIRM GLYCART

The Roche pharmaceuticals group is acquiring a Swiss developer of biotech cancer drugs, GlycArt, for about SFr235 million ($180.2 million). The deal is seen as boosting Roche's position as the world's leading producer of cancer medicines. GlycArt Biotechnology of Schlieren near Zurich is a privately owned biotech company which has three monoclonal antibody drugs in preclinical testing. Such antibodies are mass-produced artificial versions of the proteins made by the immune system that seek out and destroy specific targets.

Swissinfo

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