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Peptide Therapeutics Group confirmed they were in talks to be acquired or merged with two separate companies. The news came from Reuters and the Financial Times that Cantab Pharmaceuticals PLC (CTB on the London Exchange) and Powderject Pharmaceuticals (PJP on the London Exchange) were each bidding for the company.
Rumors still indicate the Oxford Biomedica PLC (OXB on the London Exchange) is also interested in a merger or acquisition of Peptide.
Peptide is a vaccine company which is advantageous since product development of vaccines takes a shorter period of time to be approved than drugs. The average time being 4 to 5 years in comparison to the 8 to ten years for drug discovery. Peptide is also in the protease inhibitor business in cooperation with Novartis. Other partners include, Pfizer, Aventis Pasteur, Medeva of Switzerland, Eli Lily, Peptimmune, Medivir of Switzerland, the Research Council, the University of Dundee.
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