On July 20, 2004 Cancer Research Technology (CRT) reported that it has entered into a license agreement granting Genentech, Inc. (NYSE: DNA) exclusive worldwide rights to its patent portfolio covering an oncology target discovered in the Molecular Oncology Laboratory (Oxford) of Cancer Research UK(Press release, Cancer Research Technology, JUL 20, 2004, View Source [SID1234523449]). This oncology target was validated through collaboration between Cancer Research UK and CRT’s Development Laboratory. Genentech plans to evaluate the potential of protein therapeutics directed to this target.

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Harpal Kumar, CEO of CRT, commented, "CRT is delighted to have completed its first licensing partnership with Genentech for a therapeutic target. This partnership further exemplifies CRT’s role in bringing benefit to cancer patients by facilitating the development of early-stage opportunities and forming partnerships between cancer researchers and industry to accelerate the development of new therapies. We believe that Genentech is the ideal partner to accelerate this therapeutic opportunity towards the clinic.