October 10, 2013 9:00am EDT
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MIAMI--(BUSINESS WIRE)--
OPKO Health, Inc. (NYSE: OPK) has agreed to make an investment in Zebra
Biologics, Inc. (“Zebra”), a privately held biotechnology company
focused on the discovery and development of biosuperior antibody
therapeutics and complex drug targets. Zebra’s patented platform is an
advanced version of a core technology that underlies the discovery and
commercial success of AbbVie Inc.’s Humira ™, developed by Richard
Lerner, M.D., at The Scripps Research Institute. The technology allows
for the selection of antibodies for function rather than through simple
binding. Zebra has already developed an early pre-clinical pipeline of
candidate antibodies with significant commercial potential in regulating
diabetes and obesity, cancer, and treatment of neurological disease.
In addition to Phillip Frost, M.D., OPKO’s Chairman and Chief Executive
Officer, Zebra’s directors and founders also include Dr. Lerner; Dr.
Ronald M. Lindsay, a director and Executive Vice President for Strategic
Planning of Sequenom, Inc. (NASDAQ: SQNM), a company providing
innovative diagnostic testing and genetic analysis solutions; Mr. Gao
Feng, chairman and president of Beijing based Hongye International
Investment Group, which operates in the energy, natural resources,
finance and bio-pharmaceuticals industries; and Dr. Paul Greengard,
Vincent Astor Professor at Rockefeller University and recipient of a
2000 Nobel Prize for his work concerning signal transduction in the
nervous system.
“This participation is in keeping with a core strategy of investing in
other companies that have valuable proprietary technology and
significant future potential for OPKO,” said Dr. Frost. “We are hopeful
that our portfolio of investments will continue to appreciate in value
as the companies and technologies mature. In some cases, our investments
offer opportunities for OPKO to obtain new products; as well as the
possibility to monetize them at an appropriate time.”
ABOUT OPKO HEALTH, INC.
OPKO is a multinational biopharmaceutical and diagnostics company that
seeks to establish industry leading positions in large, rapidly growing
markets by leveraging its discovery, development and commercialization
expertise and novel and proprietary technologies. For more information,
visit http://www.opko.com .
SAFE HARBOR STATEMENT
This press release includes forward looking statements, within the
meaning of the Private Securities Litigation Reform Act of 1995, which
are subject to risks and uncertainties that could cause actual results
to differ materially from those anticipated. Such statements may relate
to OPKO's plans, objectives and expected financial and operating
results, including statements regarding the commercial potential of
Zebra’s early pre-clinical pipeline of candidate antibodies, expected
benefits from OPKO’s investment in Zebra and other companies with
valuable proprietary technology, the value of OPKO’s portfolio of
investments and whether the investments will continue to appreciate in
value, whether the investments offer opportunities for new products, and
whether OPKO will be able to monetize the investments at the appropriate
time. The words "may," "could," "would," "will," "believe,"
"anticipate," "estimate," "expect," "intend," "plan," and similar
expressions or variations thereof are intended to identify
forward-looking statements. Investors are cautioned that any such
forward-looking statements are not guarantees of future performance and
involve risks and uncertainties, many of which are beyond OPKO's ability
to control. The risks and uncertainties that may affect forward looking
statements include those described in OPKO’s filings with the Securities
and Exchange Commission, as well as risks inherent in funding,
developing and obtaining regulatory approvals of new,
commercially-viable and competitive products and treatments, general
market factors, competitive product development, product availability,
federal and state regulations and legislation, the regulatory process
for new products and indications, manufacturing issues that may arise,
patent positions and litigation, among other factors For more details
about the risks and uncertainties related to OPKO's business, refer to
OPKO's filings with the Securities and Exchange Commission. OPKO
undertakes no obligation to publicly update or revise any forward
looking statements, whether as a result of new information, future
events or otherwise.
OPKO Health, Inc.
Steve D. Rubin, 305-575-4100
Executive Vice
President — Administration
or
Juan F. Rodriguez, 305-575-4100
Chief
Financial Officer
Source: OPKO Health, Inc.
Released October 10, 2013
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