Re Agreement
November 24 2003 - 1:00AM
UK Regulatory
RNS Number:3880S
Medical Marketing Int'l Group PLC
24 November 2003
FOR IMMEDIATE RELEASE 24 November 2003
MMI ANNOUNCES OPENING OF 'LAB HOTEL'
- First agreement signed with Pall Biopharmaceuticals -
Medical Marketing International Group plc (MMI) the Cambridge, UK-based
technology management company listed on the London Stock Exchange (LSE:MMG) has
today announced that it has reached an exclusive agreement with Pall
Biopharmaceuticals, a division of Pall Corporation, the largest and most diverse
filtration, separations and purifications company in the world, for the supply
of advanced filtration and separation technologies for MMI's new laboratory
hotel ,'Lab Hotel'.
The 'Lab Hotel' will provide fledgling biotechnology companies based at MMI's
Bioscience Innovation Centre (BIC) in Cambridge, access to sophisticated
equipment managed to industrial standards by allowing them to use the equipment
on a short-term rental basis, rather than incurring capital costs. Going
forward, MMI plans to extend its technology offerings into tissue culture,
microbiology and analytical services.
David Best, Chairman of MMI, explained: "We are delighted that global leaders
like Pall Biopharmaceuticals are supporting our Lab Hotel. The capital cost of
equipment is often prohibitive resulting in emerging biotech companies being
unable to generate quality data that will satisfy investors. MMI's 'Lab Hotel'
solves this problem by enabling the manufacturers of world-class equipment to
install their systems in a professionally managed purpose-built centre. Through
this innovative service we believe that we will increase occupancy as well as
fee levels and create greater opportunities for MMI to take equity stakes in
these exciting businesses. Ultimately our goal will be for BIC to become the
centre of excellence for starting a bio-business"
Neil Macdonald, Group VP of Pall Corporation said: "As a global leader in the
rapidly growing fields of filtration, separations and purification, we are
delighted to be able to support MMI by providing leading-edge products to meet
the demanding needs of young companies in biotechnology and pharmaceuticals. As
a corporation with a turnover of about $1.5 billion, we have made a substantial
commitment to supporting the growth of biotechnology companies. Providing MMI's
'Lab Hotel' with equipment and services is part of this process."
For further information, please contact:
David Best - Executive Chairman
MMI Group Tel: +44 (0)1223 477677
www.mmigroup.co.uk
Tony Orchard
Pall Biopharmaceuticals Tel: +44 023 9230 2236
Lisa Baderoon
Buchanan Communications Tel: +44 (0)20 7466 5000
lisab@buchanan.uk.com
Notes for Editors;
MMI opened it's Cambridge; UK-based Bioscience Innovation Centre in December
1999 as Europe's first fully mentored, commercially operated, biotechnology
business incubator.
Business incubation is a vital component in the creation of sustainable,
world-class, technology companies. The word 'incubator' can mean all things to
all people. In MMI's experience an incubator needs to be sector-specific,
purpose-built and fully mentored, i.e. it contains on-site a full complement of
all the commercial and technical skills, which are foundation stones for
success.
The purpose-built MMI 'Laboratory Hotel' offers a unique facility for start-up
biotechnology companies to demonstrate early proof of concept data and examples
to support patent applications. Access to the laboratory is available on a short
flexible arrangement and offers a laboratory facility that normally would be out
of reach to most early start-ups. The Laboratory Hotel concept ensures the
limited funding and staff time available to new companies is focused on the
immediate development of their technologies.
When it comes to negotiating for funding or with potential industrial partners
the credibility of research data is vital. The MMI Laboratory Hotel is managed
on the principles of safety, data integrity and quality. The pharmaceutical
industry standards applied in the laboratory would not usually be found in early
stage biotechnology companies.
With the implementation of the Clinical Trials Directive on 1st May 2004, MMI
considers it is increasingly important to ensure start-ups take into
consideration the implications of the Directive. For example, planning the
scalability and validation of potential manufacturing approaches at an early
stage in their research programmes. By working with experienced industrial
partners, such as Pall, early stage biotechnology companies gain invaluable help
in ensuring their processes will compatibility with Good Manufacturing Practice
(GMP) and transferable to manufacturing partners.
Clinical Trials Directive 2001/20/EC
The main aim of the Directive is to simplify and harmonise the administrative
provisions governing clinical trials by establishing a clear, transparent
procedure and creating conditions conducive to the effective co-ordination of
such clinical trials in the European Community by the authorities concerned.
This would facilitate the internal market in medicinal products while at the
same time maintain appropriate levels of protection for public health. Overall,
the Directive aims to provide an environment for conducting clinical research
that protects participants without hampering the discovery of new essential
medicines.
Part of the Clinical Trials Directive requires that the Investigational
Medicinal Products (IMP) to be used in a trial be manufactured to standards of
Good Manufacturing Practice (GMP) to prevent participants being exposed to
unsafe medicines. An IMP that is manufactured and/or imported prior to the 1 May
2004 without an appropriate authorisation may be used in a clinical trial that
starts either before, on or after the 1 May 2004. After the 1 May 2004 the
manufacture and/or importation of an IMP will be a licensable activity. The
holder of the authorisation will also be obliged to comply with the principles
and guidelines of good manufacturing practice (GMP).
About Pall Corporation
Pall Corporation is the leader in the rapidly growing fields of filtration,
separations and purification. Pall's business is organized around two broad
markets: Life Sciences and Industrial. The company provides leading-edge
products to meet the demanding needs of customers in biotechnology,
pharmaceuticals, transfusion medicine, semiconductors, municipal drinking water,
aerospace and broad industrial markets. Total revenues are $1.6 billion. The
Company headquarters are in East Hills, New York with operations in more than 30
countries. Further information is available at www.pall.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGRNKDKDOBDDPDB