2003 - The Year of BBG

Charts

BBG has 19p liquid assets and the new management is seeking deals.
It has £43m cash, 6.3p a share, and a tax shelter worth 12p a share if it is taken over. The 1990s disasters have left £290m past losses which a buyer can set off against its own profits, saving £82m

British Biotech plc (LSE: BBG, Nasdaq: BBIOY) announced that Dr Peter Fellner has been elected to its Board of Directors, and will be appointed non-executive Chairman with effect from 1 January, 2003. He will succeed Mr Christopher Hampson CBE, who will be retiring on 31 December, 2002 after serving as Chairman since 1998.

BBG is progressing a broad portfolio of innovative clinical products to fight diseases with limited treatment options and with the Appointment of Dr Peter Fellner, makes BBG a strong takeover candidate.

Product Portfolio
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BB-10901
Humanised monoclonal antibody-delivered chemotherapy for small cell lung cancer
Collaboration with ImmunoGen Inc, USA
Phase I dose-escalation studies completed (weekly dosing, US) and in progress (daily dosing, UK)
British Biotech has commercialisation rights for EU, Japan

MG98
2nd generation antisence DNA inhibitor
for cancer
Phase I study under way in US
Collaboration with MethylGene Inc.
British Biotech has commercialisation
rights for Europe

BB-10153
Thrombin-activated plasminogen for thrombotic disease
Phase II study under way: TIMI Study Group conducting proof-of-principle study in heart attack patients
Actively seeking partner to co-develop and market

BB-83698
Peptide deformylase inhibitor for serious chest infections
Phase I i.v. study started October 2002
Collaboration with GeneSoft Inc.
British Biotech and GeneSoft have equal commercialisation rights