CAT Catco Reinsurance Opportunities Fund Limited

RNS Number:5521G
Cambridge Antibody Tech Group PLC
17 December 2004


04/CAT/17


Friday 17 December 2004


For further information contact:

Cambridge Antibody Technology                           Weber Shandwick Square Mile (Europe)
Tel: +44 (0) 1223 471 471                               Tel: +44 (0) 20 7067 0700
Peter Chambre, Chief Executive Officer                  Kevin Smith
John Aston, Chief Financial Officer                     Sarah Macleod
Rowena Gardner, Director of Corporate Communications


                                                        BMC Communications/The Trout Group (USA)
                                                        Tel: +1 212 477 9007
                                                        Brad Miles, ext 17 (media)
                                                        Brandon Lewis, ext 15 (investors)



CAMBRIDGE ANTIBODY TECHNOLOGY LEGAL ACTION WITH ABBOTT:

JUDGEMENT TO BE ANNOUNCED ON 20 DECEMBER 2004


Cambridge, UK Cambridge Antibody Technology (LSE: CAT; NASDAQ: CATG) announces
that, following the completion on Friday 10 December 2004 of the hearing in the
High Court in London of its legal action in relation to HUMIRA royalties with
Abbott, it has received notification from the judge that he will give his
judgement in open court at 10.30 GMT on Monday 20 December 2004.

In order to ensure protection of investors under paragraph 1.15 of the Listing
Rules, it has been agreed with the UK Listing Authority that CATs ordinary
shares will be suspended from trading on the London Stock Exchanges market for
listed securities from 07.30 GMT on Monday 20 December until after the Company
has issued a news release in relation to the judgement. This news release will
be issued as soon as possible after the judgement is handed down.



-ENDS-



Notes to Editors

Cambridge Antibody Technology (CAT):

CAT is a biopharmaceutical company using its proprietary technologies and
capabilities in human monoclonal antibodies for drug discovery and drug
development. Based near Cambridge, England, CAT currently employs around 280
people.

CAT is a leader in the discovery and development of human therapeutic antibodies
and has an advanced proprietary technology for rapidly isolating human
monoclonal antibodies using phage display and ribosome display systems. CAT has
extensive phage antibody libraries, currently incorporating more than 100
billion distinct antibodies. These libraries form the basis for the Companys
strategy to develop a portfolio of antibody-based drugs.

Four CAT human therapeutic antibody products are now at various stages of
clinical development, with one further product candidate in pre-clinical
development.

HUMIRA, the leading CAT-derived antibody, isolated and optimised in
collaboration with Abbott, has been approved for marketing as a treatment for
rheumatoid arthritis in 51 countries. Six further licensed CAT-derived human
therapeutic antibodies are in clinical development by licensees, with four
further licensed product candidates in pre-clinical development.

CAT has alliances with a number of pharmaceutical and biotechnology companies to
discover, develop and commercialise human monoclonal antibody-based products.

On 22 November 2004, CAT announced a strategic alliance with AstraZeneca to
discover and develop human antibody therapeutics in inflammatory disorders.



CAT has a broad collaboration with Genzyme for the development and
commercialisation of antibodies directed against TGFb, a family of proteins
associated with fibrosis and scarring. This collaboration has so far given rise
to one antibody product candidate at clinical development stage, and one at
pre-clinical development stage.

CAT has also licensed its proprietary technologies to several companies. CATs
licensees include: Abbott, Amgen, Chugai, Genzyme, Human Genome Sciences, Merck
& Co, Pfizer and Wyeth Research.

CAT is listed on the London Stock Exchange and on NASDAQ. CAT raised #41m in its
IPO in March 1997 and #93m in a secondary offering in March 2000.

Application of the Safe Harbor of the Private Securities Litigation Reform Act
of 1995: This press release contains statements about Cambridge Antibody
Technology Group plc (CAT) that are forward looking statements. All statements
other than statements of historical facts included in this press release may be
forward looking statements within the meaning of Section 21E of the Securities
Exchange Act of 1934. These forward looking statements are based on numerous
assumptions regarding the companys present and future business strategies and
the environment in which the company will operate in the future. Certain factors
that could cause the companys actual results, performance or achievements to
differ materially from those in the forward looking statements include: market
conditions, CATs ability to enter into and maintain collaborative arrangements,
success of product candidates in clinical trials, regulatory developments and
competition. We caution investors not to place undue reliance on the forward
looking statements contained in this press release. These statements speak only
as of the date of this press release, and we undertake no obligation to update
or revise the statements.



                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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