Last updated on April 25, 2014 at 1:22 EDT

PolyTherics and Antitope Combine to Create Leading Provider of Solutions to Enable the Development of Better Biopharmaceuticals

July 26, 2013

LONDON and CAMBRIDGE, England, July 26, 2013 /PRNewswire/ –

PolyTherics receives new investment to accelerate growth

PolyTherics Limited (“PolyTherics”) announces that it has merged with Antitope Limited
(“Antitope”), the leading provider of antibody engineering and immunogenicity screening
services, to create an enlarged group with an extensive suite of services and technologies
to enable the development of better biopharmaceuticals.

PolyTherics is issuing new shares up to an aggregate value of GBP13.5 million to fund
the merger with Antitope and to provide working capital for the enlarged group. Imperial
Innovations (AIM: IVO) led the investment and brought in new investor Invesco Perpetual
with further funds provided by Mercia Fund Management and Advantage Enterprise &
Innovation Fund.

The enlarged PolyTherics group will leverage its combined portfolio of proprietary and
complementary technologies and services to address key needs in biopharmaceutical
development. The combined portfolio will include conjugation technologies to produce more
stable and homogeneous antibody drug conjugates, technologies to optimise the
pharmacokinetics of biologics, technologies for immunogenicity screening, technologies to
re-engineer antibodies and proteins to reduce their immunogenicity, and cell line
development technologies. The group has a strong client base in the biotechnology and
pharmaceutical industry, including many of the world’s top companies.

Dr John Burt will continue as CEO of PolyTherics and Antitope will operate as a wholly
owned subsidiary of the PolyTherics group. Dr Matthew Baker will continue as Chief
Scientific Officer for Antitope and the company will retain its base, management and
operational structure at the Babraham Research Campus, near Cambridge.

The expanded offering will provide the PolyTherics group with a broad technology
platform for growth and a solid financial base with sustainable revenue streams over the
short-, medium- and longer-term. Growing revenues are derived from the services offered by
Antitope and feasibility studies undertaken by PolyTherics and from pre-defined milestone
payments under licence agreements for the group’s conjugation and de-immunisation
technologies. These licences also have the potential to provide future royalties on a
portfolio of products which utilise the group’s proprietary technologies.

Dr John Burt, CEO of PolyTherics, said: “The combination of PolyTherics and Antitope
is a significant strategic step, immediately broadening our business and accelerating our
growth. We look forward to building PolyTherics into a leading global provider of
technologies that enable the development of better biopharmaceuticals.”

Dr Matthew Baker, CEO and CSO of Antitope, said: “The combination of Antitope with
PolyTherics provides an excellent opportunity for us to expand and grow our offering to
our existing partners. The combined company will have critical mass in terms of
technologies, skills and resources and will enable us to leverage the full potential of
our antibody engineering and deimmunisation platforms. We are delighted to become part of
the PolyTherics group and believe this move will enable us to support growing demand for
our technologies from the global biopharma industry.”

About PolyTherics

PolyTherics provides technology solutions to enable the development of better
biopharmaceuticals and offers a portfolio of proprietary and complementary technologies
and services to address key needs in biopharmaceutical development.

PolyTherics’ portfolio includes proprietary site-specific conjugation technologies and
novel polymers for optimising the therapeutic properties of biopharmaceuticals, including
ThioBridge(TM) for more stable and homogeneous antibody drug conjugates, TheraPEG(TM),
CyPEG(TM), HiPEG(TM) and PolyPEG(TM) for optimisation of the pharmacokinetics of biologics
and GlycoPol(TM) for targeted delivery.

The PolyTherics group will provide immunogenicity testing, antibody humanisation and
protein re-engineering technologies through its Antitope subsidiary, including
EpiScreen(TM), Composite Human Antibody(TM), Composite Protein(TM) and Composite CHO(TM).
These technologies have been used to develop several therapeutic antibody candidates that
are advancing through clinical trials. The group provides its services and technologies to
an international client base that includes many of the world’s leading biotechnology and
pharmaceutical companies.

PolyTherics is a privately owned UK company backed by institutional investors
including Imperial Innovations (AIM: IVO), Invesco Perpetual, Mercia Fund Management,
Advantage Enterprise & Innovation Fund (managed by Catapult Venture Partners), ProVen
Health, Oxford Technology VCTs and high net worth individual’s funds managed by Longbow
Capital. The Company has dedicated facilities in London, Cambridge and Coventry, UK.



For more information contact:

        John Burt, PolyTherics
        Tel.: +44(0)20-7691-3580
        Email: john.burt@polytherics.com

        Matthew Baker, Antitope
        Tel.: +44(0)1223-496190
        Email:  matthew.baker@antitope.co.uk

        Mark Swallow, Sita Shah, Chris Gardner
        Citigate Dewe Rogerson
        Tel.: +44(0)20-7282-2948/1052/2995
        Email: mark.swallow@citigatedr.co.uk

SOURCE PolyTherics

Source: PR Newswire