Cambridge Antibody Technology (CAT), acquired by AstraZeneca in 2006, is changing its name to MedImmune, consolidating AstraZeneca’s biologics businesses. MedImmune was acquired by AstraZeneca earlier this year. The new business unit will unite the resources and expertise from CAT, the pre-existing MedImmune, and other biologics activities within the AstraZeneca Group.
With this structure, AstraZeneca has created a vertically integrated biotechnology business 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, the company reports.
“The new MedImmune is now the operationally independent and strategically aligned biologics business unit of AstraZeneca,” said David M. Mott, MedImmune president and CEO. “Bringing together the biologics expertise of 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 worldclass research umbrella.”